State Board of Administration of Florida Retirement System Continues to Hold Stake in Meridian Bancorp, Inc. (NASDAQ:EBSB)
State Board of Administration of Florida Retirement System held its position in Meridian Bancorp, Inc. (NASDAQ:EBSB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,195 shares of the savings and loans company’s stock at the end of the first quarter. State Board of Administration of Florida Retirement System’s holdings in Meridian Bancorp were worth $205,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Meridian Bancorp by 11.0% in the fourth quarter. State Street Corp now owns 1,048,679 shares of the savings and loans company’s stock valued at $19,820,000 after buying an additional 104,045 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Meridian Bancorp by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,975,270 shares of the savings and loans company’s stock valued at $37,333,000 after buying an additional 98,928 shares during the last quarter. FMR LLC increased its stake in 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 last quarter. A.R.T. Advisors LLC bought a new stake in Meridian Bancorp during the fourth quarter valued at approximately $249,000. Finally, Two Sigma Investments LP increased 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 during the last quarter. 65.03% of the stock is owned by hedge funds and other institutional investors.
Meridian Bancorp, Inc. (EBSB) traded up 1.14% during midday trading on Friday, reaching $17.75. The company had a trading volume of 219,290 shares. The stock’s 50 day moving average is $16.84 and its 200 day moving average is $17.78. Meridian Bancorp, Inc. has a 12-month low of $14.74 and a 12-month high of $20.55. The firm has a market capitalization of $905.30 million, a price-to-earnings ratio of 22.76 and a beta of 0.26.
Meridian Bancorp (NASDAQ:EBSB) last issued its earnings results on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. Meridian Bancorp had a return on equity of 6.82% and a net margin of 22.50%. The firm had revenue of $40.49 million for the quarter. Equities research analysts expect that Meridian Bancorp, Inc. will post $0.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, June 19th. This represents a $0.16 annualized dividend and a yield of 0.90%. Meridian Bancorp’s payout ratio is currently 20.00%.
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EBSB has been the subject of several recent analyst reports. BidaskClub downgraded Meridian Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Piper Jaffray Companies restated a “hold” rating on shares of Meridian Bancorp in a research note on Wednesday, July 26th. Finally, Compass Point upgraded Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Monday, June 26th.
In other Meridian Bancorp news, Director James G. Sartori sold 8,324 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $17.46, for a total transaction of $145,337.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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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