Meridian Bancorp, Inc. (EBSB) Expected to Announce Earnings of $0.20 Per Share
Equities research analysts predict that Meridian Bancorp, Inc. (NASDAQ:EBSB) will post earnings per share of $0.20 for the current quarter, Zacks reports. Zero analysts have provided estimates for Meridian Bancorp’s earnings. Meridian Bancorp reported earnings per share of $0.14 in the same quarter last year, which suggests a positive year over year growth rate of 42.9%. The business is scheduled to announce its next quarterly earnings results on Tuesday, April 25th.
According to Zacks, analysts expect that Meridian Bancorp will report full year earnings of $0.86 per share for the current fiscal year. For the next year, analysts anticipate that the firm will report earnings of $0.98 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Meridian Bancorp.
Meridian Bancorp (NASDAQ:EBSB) last released its quarterly earnings results on Tuesday, January 24th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.04. Meridian Bancorp had a return on equity of 5.81% and a net margin of 20.86%. The firm had revenue of $39.03 million for the quarter.
Several research firms have recently issued reports on EBSB. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $20.00 price objective on shares of Meridian Bancorp in a report on Wednesday, April 5th. Piper Jaffray Companies increased their price objective on shares of Meridian Bancorp from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, February 7th.
Meridian Bancorp (NASDAQ:EBSB) traded down 0.53% during trading on Friday, hitting $18.60. The company had a trading volume of 109,313 shares. The company has a market cap of $936.19 million, a PE ratio of 28.62 and a beta of 0.29. The company’s 50 day moving average price is $18.38 and its 200-day moving average price is $17.93. Meridian Bancorp has a 12 month low of $13.41 and a 12 month high of $20.55.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 4th. Stockholders of record on Tuesday, March 21st were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, March 17th. This is a boost from Meridian Bancorp’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 0.86%. Meridian Bancorp’s dividend payout ratio (DPR) is 18.46%.
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In related news, Director Gregory F. Natalucci sold 4,600 shares of the stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $18.91, for a total transaction of $86,986.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James G. Sartori sold 8,216 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $19.19, for a total transaction of $157,665.04. The disclosure for this sale can be found here. Insiders sold 21,651 shares of company stock valued at $415,255 over the last quarter. Insiders own 5.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in EBSB. Highbridge Capital Management LLC acquired a new stake in Meridian Bancorp during the fourth quarter valued at approximately $964,000. Teachers Advisors LLC raised its stake in Meridian Bancorp by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 89,581 shares of the savings and loans company’s stock valued at $1,693,000 after buying an additional 1,956 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Meridian Bancorp by 128.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,852 shares of the savings and loans company’s stock valued at $129,000 after buying an additional 3,852 shares in the last quarter. Tudor Investment Corp Et Al raised its stake in Meridian Bancorp by 7.1% in the fourth quarter. Tudor Investment Corp Et Al now owns 28,276 shares of the savings and loans company’s stock valued at $534,000 after buying an additional 1,869 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in Meridian Bancorp by 318.8% in the fourth quarter. Two Sigma Investments LP now owns 78,897 shares of the savings and loans company’s stock valued at $1,491,000 after buying an additional 60,058 shares in the last quarter. 67.90% of the stock is owned by institutional investors and hedge funds.
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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