Meridian Bancorp Inc (NASDAQ:EBSB) announced a quarterly dividend on Thursday, August 30th, Wall Street Journal reports. Shareholders of record on Tuesday, September 18th will be given 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 yield of 1.14%. 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. 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%.
NASDAQ EBSB opened at $17.60 on Friday. The company has a market capitalization of $957.25 million, a price-to-earnings ratio of 18.53 and a beta of 0.15. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.89. Meridian Bancorp has a 52 week low of $15.61 and a 52 week high of $21.85.
Several equities research analysts have commented on EBSB shares. BidaskClub cut Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Zacks Investment Research upgraded Meridian Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 7th. Finally, ValuEngine cut 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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