Meridian Bancorp (NASDAQ:EBSB) Downgraded by BidaskClub

BidaskClub lowered shares of Meridian Bancorp (NASDAQ:EBSB) from a buy rating to a hold rating in a research note released on Thursday, BidAskClub reports.

Several other equities analysts have also weighed in on the company. Piper Jaffray Companies set a $8.00 price target on Ocular Therapeutix and gave the company a buy rating in a research note on Tuesday, July 2nd. ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Monday, May 13th. Finally, Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $18.67.

Shares of Meridian Bancorp stock opened at $18.46 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.77. Meridian Bancorp has a twelve month low of $13.67 and a twelve month high of $19.32. The company has a 50-day simple moving average of $17.99. The stock has a market cap of $988.39 million, a price-to-earnings ratio of 16.34 and a beta of 0.50.

Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings results on Tuesday, April 23rd. The savings and loans company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Meridian Bancorp had a return on equity of 8.70% and a net margin of 23.48%. The firm had revenue of $46.43 million during the quarter, compared to analyst estimates of $46.00 million. Sell-side analysts anticipate that Meridian Bancorp will post 1.28 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Monday, June 17th. Meridian Bancorp’s payout ratio is 26.42%.

Hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc boosted its holdings in Meridian Bancorp by 10.3% in the 4th quarter. Legal & General Group Plc now owns 8,597 shares of the savings and loans company’s stock worth $123,000 after buying an additional 806 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Meridian Bancorp in the 1st quarter worth about $156,000. BNP Paribas Arbitrage SA boosted its holdings in Meridian Bancorp by 508.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,008 shares of the savings and loans company’s stock worth $157,000 after buying an additional 8,362 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Meridian Bancorp by 9.0% in the 4th quarter. Prudential Financial Inc. now owns 11,440 shares of the savings and loans company’s stock worth $164,000 after buying an additional 945 shares during the last quarter. Finally, Kessler Investment Group LLC boosted its holdings in Meridian Bancorp by 14.4% in the 1st quarter. Kessler Investment Group LLC now owns 10,963 shares of the savings and loans company’s stock worth $172,000 after buying an additional 1,382 shares during the last quarter. Institutional investors own 65.33% of the company’s stock.

Meridian Bancorp Company Profile

Meridian Bancorp, Inc operates as the holding company for East Boston Savings Bank that provides various financial products and services for individuals and businesses primarily in Suffolk, Norfolk, Middlesex and Essex Counties, Massachusetts. The company accepts various deposit products, including non-interest-bearing demand deposits, such as checking accounts; interest-bearing demand accounts comprising NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts.

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