New York State Common Retirement Fund trimmed its stake in Meridian Bancorp Inc (NASDAQ:EBSB) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,547 shares of the savings and loans company’s stock after selling 3,170 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of Meridian Bancorp worth $1,240,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its stake in Meridian Bancorp by 6.5% in the fourth quarter. BlackRock Inc. now owns 3,109,062 shares of the savings and loans company’s stock valued at $64,048,000 after purchasing an additional 190,670 shares in the last quarter. Commerce Bank bought a new position in shares of Meridian Bancorp during the 4th quarter worth approximately $230,000. Bank of New York Mellon Corp boosted its stake in shares of Meridian Bancorp by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 272,747 shares of the savings and loans company’s stock worth $5,618,000 after acquiring an additional 3,013 shares during the period. Jefferies Group LLC bought a new position in shares of Meridian Bancorp during the 4th quarter worth approximately $301,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Meridian Bancorp by 303.1% during the 4th quarter. Wells Fargo & Company MN now owns 224,822 shares of the savings and loans company’s stock worth $4,631,000 after acquiring an additional 169,047 shares during the period. Hedge funds and other institutional investors own 69.18% of the company’s stock.
Several research analysts have recently commented on the company. BidaskClub downgraded Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, May 12th. Zacks Investment Research upgraded Meridian Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st.
In related news, Director James G. Sartori sold 19,852 shares of the business’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $19.48, for a total value of $386,716.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frank Romano purchased 14,365 shares of Meridian Bancorp stock in a transaction that occurred on Friday, April 27th. The stock was purchased at an average price of $18.85 per share, with a total value of $270,780.25. The disclosure for this purchase can be found here. Insiders have sold a total of 21,475 shares of company stock valued at $417,494 over the last quarter. 5.30% of the stock is currently owned by corporate insiders.
Shares of NASDAQ EBSB opened at $19.15 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.89. Meridian Bancorp Inc has a 12 month low of $16.35 and a 12 month high of $21.85. The company has a market cap of $1.04 billion, a PE ratio of 19.35 and a beta of 0.28.
Meridian Bancorp (NASDAQ:EBSB) last issued its earnings results on Tuesday, April 24th. The savings and loans company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). Meridian Bancorp had a return on equity of 8.20% and a net margin of 21.09%. The business had revenue of $42.18 million for the quarter. research analysts expect that Meridian Bancorp Inc will post 1.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Tuesday, June 19th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 18th. This represents a $0.20 annualized dividend and a dividend yield of 1.04%. Meridian Bancorp’s dividend payout ratio is currently 21.05%.
About Meridian Bancorp
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.
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