Meridian Bancorp, Inc. (EBSB) Shares Bought by State Street Corp
State Street Corp boosted its stake in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,073,277 shares of the savings and loans company’s stock after buying an additional 24,598 shares during the period. State Street Corp’s holdings in Meridian Bancorp were worth $19,641,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Sei Investments Co. increased its stake in Meridian Bancorp by 5.8% in the first quarter. Sei Investments Co. now owns 5,918 shares of the savings and loans company’s stock valued at $108,000 after buying an additional 325 shares in the last quarter. Stevens Capital Management LP bought a new stake in Meridian Bancorp during the first quarter valued at about $200,000. Victory Capital Management Inc. bought a new stake in Meridian Bancorp during the first quarter valued at about $227,000. KCG Holdings Inc. bought a new stake in Meridian Bancorp during the first quarter valued at about $257,000. Finally, Globeflex Capital L P increased its stake in Meridian Bancorp by 17,878.8% in the first quarter. Globeflex Capital L P now owns 17,799 shares of the savings and loans company’s stock valued at $326,000 after buying an additional 17,700 shares in the last quarter. Institutional investors and hedge funds own 64.80% of the company’s stock.
Meridian Bancorp, Inc. (NASDAQ EBSB) traded up 0.57% during midday trading on Tuesday, hitting $17.55. The company’s stock had a trading volume of 11,899 shares. The firm has a market cap of $895.10 million, a P/E ratio of 22.50 and a beta of 0.26. The company’s 50 day moving average price is $17.07 and its 200 day moving average price is $17.72. Meridian Bancorp, Inc. has a 12 month low of $15.00 and a 12 month high of $20.55.
Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings results on Tuesday, July 25th. The savings and loans company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The business had revenue of $40.49 million for the quarter. Meridian Bancorp had a net margin of 22.50% and a return on equity of 6.77%. Analysts expect that Meridian Bancorp, Inc. will post $0.82 EPS for the current year.
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Several equities research analysts have issued reports on the company. Piper Jaffray Companies restated a “hold” rating on shares of Meridian Bancorp in a research report on Wednesday, July 26th. BidaskClub downgraded Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Compass Point upgraded Meridian Bancorp from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Monday, June 26th.
In other Meridian Bancorp news, EVP Frank Romano purchased 3,785 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were acquired at an average price of $17.69 per share, for a total transaction of $66,956.65. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James G. Sartori sold 8,324 shares of Meridian Bancorp stock in a transaction on Friday, July 28th. The stock was sold at an average price of $17.46, for a total transaction of $145,337.04. The disclosure for this sale can be found here. Company 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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