Zacks: Meridian Bancorp Inc (EBSB) Given $18.50 Average Target Price by Analysts

Meridian Bancorp Inc (NASDAQ:EBSB) has been given an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation. Meridian Bancorp’s rating score has declined by 50% in the last 90 days as a result of various analysts’ ratings changes.

Brokerages have set a 1 year consensus target price of $18.50 for the company and are expecting that the company will post $0.30 EPS for the current quarter, according to Zacks. Zacks has also assigned Meridian Bancorp an industry rank of 94 out of 257 based on the ratings given to its competitors.

EBSB has been the subject of several recent research reports. BidaskClub cut Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Zacks Investment Research cut Meridian Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 3rd. Finally, ValuEngine cut Meridian Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in Meridian Bancorp by 15.9% during the second quarter. Victory Capital Management Inc. now owns 22,402 shares of the savings and loans company’s stock valued at $429,000 after purchasing an additional 3,074 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Meridian Bancorp by 10.5% in the first quarter. California Public Employees Retirement System now owns 34,002 shares of the savings and loans company’s stock valued at $685,000 after buying an additional 3,221 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Meridian Bancorp by 3.7% in the third quarter. Teachers Advisors LLC now owns 101,314 shares of the savings and loans company’s stock valued at $1,722,000 after buying an additional 3,653 shares during the last quarter. Strs Ohio lifted its position in shares of Meridian Bancorp by 8.9% in the second quarter. Strs Ohio now owns 47,500 shares of the savings and loans company’s stock valued at $909,000 after buying an additional 3,900 shares during the last quarter. Finally, Hennessy Advisors Inc. lifted its position in shares of Meridian Bancorp by 1.1% in the third quarter. Hennessy Advisors Inc. now owns 450,000 shares of the savings and loans company’s stock valued at $7,650,000 after buying an additional 5,000 shares during the last quarter. 64.57% of the stock is owned by hedge funds and other institutional investors.

NASDAQ EBSB traded up $0.07 during trading hours on Thursday, hitting $16.03. 180,020 shares of the company traded hands, compared to its average volume of 218,174. Meridian Bancorp has a twelve month low of $15.25 and a twelve month high of $21.85. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $864.35 million, a PE ratio of 16.87 and a beta of 0.17.

Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings results on Tuesday, October 23rd. The savings and loans company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Meridian Bancorp had a return on equity of 8.99% and a net margin of 22.37%. The firm had revenue of $45.04 million during the quarter, compared to analysts’ expectations of $45.10 million. As a group, research analysts forecast that Meridian Bancorp will post 1.12 EPS for the current year.

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 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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