Meridian Bancorp, Inc. (NASDAQ:EBSB) was the recipient of a significant growth in short interest during the month of April. As of April 28th, there was short interest totalling 330,667 shares, a growth of 0.2% from the April 13th total of 329,975 shares. Based on an average daily trading volume, of 157,250 shares, the days-to-cover ratio is presently 2.1 days.

In other Meridian Bancorp news, Director James G. Sartori sold 8,216 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $19.19, for a total transaction of $157,665.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory F. Natalucci sold 4,600 shares of the company’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $18.91, for a total transaction of $86,986.00. The disclosure for this sale can be found here. Insiders have sold 21,651 shares of company stock worth $415,255 over the last ninety days. Insiders own 5.10% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Meridian Bancorp by 3.4% in the fourth quarter. FMR LLC now owns 4,677,871 shares of the savings and loans company’s stock valued at $88,412,000 after buying an additional 155,979 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Meridian Bancorp by 8.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,139,513 shares of the savings and loans company’s stock valued at $39,153,000 after buying an additional 164,243 shares during the period. Vanguard Group Inc. raised its stake in shares of Meridian Bancorp by 7.2% in the first quarter. Vanguard Group Inc. now owns 2,096,411 shares of the savings and loans company’s stock valued at $38,364,000 after buying an additional 141,534 shares during the period. Renaissance Technologies LLC raised its stake in shares of Meridian Bancorp by 2.2% in the first quarter. Renaissance Technologies LLC now owns 1,592,058 shares of the savings and loans company’s stock valued at $29,135,000 after buying an additional 33,900 shares during the period. Finally, State Street Corp raised its stake in shares of Meridian Bancorp by 2.3% in the first quarter. State Street Corp now owns 1,073,277 shares of the savings and loans company’s stock valued at $19,641,000 after buying an additional 24,598 shares during the period. 67.90% of the stock is currently owned by institutional investors.

Meridian Bancorp (NASDAQ:EBSB) opened at 16.70 on Friday. The stock’s 50 day moving average is $17.86 and its 200-day moving average is $18.22. Meridian Bancorp has a 12 month low of $13.66 and a 12 month high of $20.55. The firm has a market capitalization of $850.85 million, a price-to-earnings ratio of 24.20 and a beta of 0.29.

Several brokerages have weighed in on EBSB. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $20.00 price objective on shares of Meridian Bancorp in a research note on Wednesday, April 5th. Piper Jaffray Companies upped their target price on shares of Meridian Bancorp from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 7th.

COPYRIGHT VIOLATION WARNING: This article was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/05/19/meridian-bancorp-inc-ebsb-sees-significant-increase-in-short-interest.html.

About Meridian Bancorp

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.

5 Day Chart for NASDAQ:EBSB

Receive News & Stock Ratings for Meridian Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meridian Bancorp Inc. and related stocks with our FREE daily email newsletter.