Zacks: Meridian Bancorp Inc (NASDAQ:EBSB) Given Average Rating of “Hold” by Brokerages

Meridian Bancorp Inc (NASDAQ:EBSB) has received a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Analysts have set a twelve-month consensus price objective of $18.50 for the company and are anticipating that the company will post $0.31 EPS for the current quarter, according to Zacks. Zacks has also assigned Meridian Bancorp an industry rank of 108 out of 256 based on the ratings given to its competitors.

Several research analysts have weighed in on the stock. BidaskClub lowered shares of Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research raised shares of Meridian Bancorp from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research note on Friday, April 26th. Finally, ValuEngine raised shares of Meridian Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, May 13th.

Shares of EBSB traded down $0.02 during mid-day trading on Monday, reaching $17.80. The stock had a trading volume of 2,961 shares, compared to its average volume of 107,566. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.20 and a current ratio of 1.20. Meridian Bancorp has a 52-week low of $13.67 and a 52-week high of $20.30. The company has a fifty day moving average of $17.28. The stock has a market capitalization of $954.13 million, a price-to-earnings ratio of 16.80 and a beta of 0.50.

Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The firm had revenue of $46.43 million during the quarter, compared to analyst estimates of $46.00 million. Meridian Bancorp had a net margin of 23.48% and a return on equity of 8.70%. As a group, research analysts forecast that Meridian Bancorp will post 1.26 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th will be issued a $0.07 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.28 annualized dividend and a yield of 1.57%. Meridian Bancorp’s dividend payout ratio (DPR) is 26.42%.

Large investors have recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in Meridian Bancorp by 10.3% in the fourth quarter. Legal & General Group Plc now owns 8,597 shares of the savings and loans company’s stock valued at $123,000 after acquiring an additional 806 shares in the last quarter. SG Americas Securities LLC purchased a new position in Meridian Bancorp in the first quarter valued at approximately $156,000. BNP Paribas Arbitrage SA increased its stake in Meridian Bancorp by 508.0% in the first quarter. BNP Paribas Arbitrage SA now owns 10,008 shares of the savings and loans company’s stock valued at $157,000 after purchasing an additional 8,362 shares during the last quarter. Prudential Financial Inc. increased its stake in Meridian Bancorp by 9.0% in the fourth quarter. Prudential Financial Inc. now owns 11,440 shares of the savings and loans company’s stock valued at $164,000 after purchasing an additional 945 shares during the last quarter. Finally, Kessler Investment Group LLC increased its stake in Meridian Bancorp by 14.4% in the first quarter. Kessler Investment Group LLC now owns 10,963 shares of the savings and loans company’s stock valued at $172,000 after purchasing an additional 1,382 shares during the last quarter. 65.37% of the stock is currently owned by hedge funds and other institutional investors.

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 Suffolk, Norfolk, Middlesex and Essex 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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