Meridian Bancorp Inc (NASDAQ:EBSB) declared a quarterly dividend on Thursday, August 30th, Wall Street Journal reports. Stockholders of record on Tuesday, September 18th will be paid a dividend of 0.05 per share by the savings and loans company on Tuesday, October 2nd. This represents a $0.20 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Monday, September 17th.
Meridian Bancorp has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Meridian Bancorp to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 16.0%.
Shares of Meridian Bancorp stock traded down $0.05 during trading hours on Thursday, hitting $17.80. The company’s stock had a trading volume of 136,625 shares, compared to its average volume of 199,398. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.89. Meridian Bancorp has a 12-month low of $17.17 and a 12-month high of $21.85. The company has a market capitalization of $978.82 million, a price-to-earnings ratio of 18.76 and a beta of 0.21.
Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Thursday, July 26th. The savings and loans company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Meridian Bancorp had a return on equity of 8.50% and a net margin of 21.43%. The company had revenue of $43.91 million for the quarter, compared to analysts’ expectations of $43.80 million. equities analysts expect that Meridian Bancorp will post 1.06 earnings per share for the current year.
In related news, Director James G. Sartori sold 19,852 shares of the business’s stock in a transaction dated 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 SEC, which is available through this link. 5.30% of the stock is owned by insiders.
EBSB has been the topic of several research analyst reports. Zacks Investment Research raised shares of Meridian Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, June 7th. BidaskClub raised shares of Meridian Bancorp from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Finally, ValuEngine cut shares of Meridian Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd.
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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