Brandywine Global Investment Management LLC Sells 16,530 Shares of Meridian Bancorp (NASDAQ:EBSB)

Brandywine Global Investment Management LLC lessened its holdings in Meridian Bancorp (NASDAQ:EBSB) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,915 shares of the savings and loans company’s stock after selling 16,530 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.21% of Meridian Bancorp worth $2,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. C M Bidwell & Associates Ltd. purchased a new stake in Meridian Bancorp in the 4th quarter worth approximately $203,000. Commerce Bank acquired a new position in shares of Meridian Bancorp during the 4th quarter valued at $230,000. SG Americas Securities LLC acquired a new position in shares of Meridian Bancorp during the 3rd quarter valued at $237,000. Magnetar Financial LLC acquired a new position in shares of Meridian Bancorp during the 3rd quarter valued at $257,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Meridian Bancorp during the 3rd quarter valued at $259,000. Institutional investors and hedge funds own 67.35% of the company’s stock.

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Several research firms have recently weighed in on EBSB. BidaskClub raised shares of Meridian Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $24.00 price objective on shares of Meridian Bancorp in a research report on Thursday, January 25th.

In other Meridian Bancorp news, Director Gregory F. Natalucci sold 7,000 shares of Meridian Bancorp stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $20.70, for a total value of $144,900.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James G. Sartori sold 15,146 shares of Meridian Bancorp stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $20.61, for a total transaction of $312,159.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,042 shares of company stock valued at $475,167. Corporate insiders own 5.10% of the company’s stock.

EBSB stock traded up $0.20 on Thursday, hitting $20.05. 170,816 shares of the company’s stock traded hands, compared to its average volume of 239,377. The firm has a market cap of $1,078.50, a PE ratio of 21.05 and a beta of 0.24. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.23 and a quick ratio of 1.23. Meridian Bancorp has a 1-year low of $15.85 and a 1-year high of $21.85.

Meridian Bancorp (NASDAQ:EBSB) last released its quarterly earnings data on Tuesday, January 23rd. The savings and loans company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.06. The firm had revenue of $48.04 million for the quarter. Meridian Bancorp had a net margin of 20.63% and a return on equity of 7.90%. sell-side analysts expect that Meridian Bancorp will post 1.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Tuesday, March 20th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, March 19th. Meridian Bancorp’s dividend payout ratio is 21.05%.

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Meridian Bancorp 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 Essex, Middlesex, Norfolk, and Suffolk 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.

Institutional Ownership by Quarter for Meridian Bancorp (NASDAQ:EBSB)

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