Meridian Bancorp, Inc. (EBSB) Sees Significant Increase in Short Interest
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.
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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.
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