Hennessy Advisors Inc. Sells 37,500 Shares of Meridian Bancorp Inc. (EBSB)
Hennessy Advisors Inc. reduced its position in Meridian Bancorp Inc. (NASDAQ:EBSB) by 7.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 472,500 shares of the company’s stock after selling 37,500 shares during the period. Hennessy Advisors Inc. owned approximately 0.93% of Meridian Bancorp worth $7,357,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its stake in shares of Meridian Bancorp by 2.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 11,045 shares of the company’s stock valued at $163,000 after buying an additional 238 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Meridian Bancorp by 215.4% in the second quarter. BlackRock Inc. now owns 11,747 shares of the company’s stock valued at $174,000 after buying an additional 8,023 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Meridian Bancorp during the second quarter valued at $182,000. BlackRock Group LTD boosted its stake in shares of Meridian Bancorp by 72.8% in the second quarter. BlackRock Group LTD now owns 12,432 shares of the company’s stock valued at $183,000 after buying an additional 5,237 shares during the last quarter. Finally, TFS Capital LLC bought a new stake in shares of Meridian Bancorp during the second quarter valued at $194,000. 66.88% of the stock is owned by institutional investors and hedge funds.
Shares of Meridian Bancorp Inc. (NASDAQ:EBSB) traded down 0.140% during midday trading on Wednesday, hitting $17.775. The company had a trading volume of 129,075 shares. The firm’s 50 day moving average is $16.34 and its 200 day moving average is $15.45. The company has a market capitalization of $906.21 million, a P/E ratio of 31.184 and a beta of 0.27. Meridian Bancorp Inc. has a 52 week low of $12.28 and a 52 week high of $18.95.
Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. Meridian Bancorp had a return on equity of 5.06% and a net margin of 19.53%. Equities research analysts anticipate that Meridian Bancorp Inc. will post $0.61 EPS for the current year.
Separately, Compass Point lowered Meridian Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, November 18th.
In related news, Director Richard F. Fernandez sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $16.20, for a total transaction of $162,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James G. Sartori sold 16,837 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $16.00, for a total value of $269,392.00. The disclosure for this sale can be found here. Corporate insiders own 5.10% of the company’s stock.
Meridian Bancorp Company Profile
Meridian Bancorp Inc, formerly Meridian Interstate Bancorp, Inc, is a mid-tier stock holding company of East Boston Savings Bank (the Bank). The Bank is a state-chartered stock savings bank that operates from 24 full-service locations and two loan centers in the Boston metropolitan area. East Boston Savings Bank operates eight of its full-service locations and a loan center under the name Mt.
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