Eukles Asset Management Takes Position in Meridian Bancorp Inc (EBSB)
Eukles Asset Management acquired a new stake in shares of Meridian Bancorp Inc (NASDAQ:EBSB) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 12,378 shares of the savings and loans company’s stock, valued at approximately $194,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new stake in Meridian Bancorp during the fourth quarter valued at approximately $34,000. Baystate Wealth Management LLC boosted its position in shares of Meridian Bancorp by 201.7% during the fourth quarter. Baystate Wealth Management LLC now owns 6,028 shares of the savings and loans company’s stock worth $94,000 after acquiring an additional 4,030 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Meridian Bancorp by 10.3% during the fourth quarter. Legal & General Group Plc now owns 8,597 shares of the savings and loans company’s stock worth $123,000 after acquiring an additional 806 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Meridian Bancorp by 9.0% during the fourth quarter. Prudential Financial Inc. now owns 11,440 shares of the savings and loans company’s stock worth $164,000 after acquiring an additional 945 shares during the last quarter. Finally, Kessler Investment Group LLC lifted its position in Meridian Bancorp by 14.4% during the first quarter. Kessler Investment Group LLC now owns 10,963 shares of the savings and loans company’s stock valued at $172,000 after purchasing an additional 1,382 shares during the last quarter. 64.84% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Gregory F. Natalucci sold 7,000 shares of the stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $15.76, for a total value of $110,320.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Edward J. Merritt sold 2,800 shares of the stock in a transaction on Monday, January 28th. The shares were sold at an average price of $15.80, for a total transaction of $44,240.00. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.
Shares of EBSB traded down $0.06 during midday trading on Tuesday, hitting $16.36. The stock had a trading volume of 645 shares, compared to its average volume of 147,615. Meridian Bancorp Inc has a 1 year low of $13.67 and a 1 year high of $20.45. The company has a market cap of $885.07 million, a P/E ratio of 15.41 and a beta of 0.50. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80.
Meridian Bancorp (NASDAQ:EBSB) last announced its earnings results on Tuesday, January 22nd. The savings and loans company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). Meridian Bancorp had a net margin of 23.56% and a return on equity of 8.34%. The firm had revenue of $42.31 million during the quarter, compared to analysts’ expectations of $45.20 million. Analysts predict that Meridian Bancorp Inc will post 1.2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Tuesday, March 19th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, March 18th. Meridian Bancorp’s dividend payout ratio is currently 26.42%.
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About Meridian Bancorp
Meridian Bancorp, Inc operates as the holding company for East Boston Savings Bank that provides various financial products and services for individuals and businesses primarily in Suffolk, Norfolk, Middlesex and Essex Counties, Massachusetts. The company accepts various deposit products, including non-interest-bearing demand deposits, such as checking accounts; interest-bearing demand accounts comprising NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts.
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