BidaskClub downgraded shares of Meridian Bancorp (NASDAQ:EBSB) from a buy rating to a hold rating in a research report released on Saturday, BidAskClub reports.

Several other brokerages have also recently issued reports on EBSB. ValuEngine raised shares of Meridian Bancorp from a sell rating to a hold rating in a research note on Monday, May 13th. Zacks Investment Research upgraded shares of Meridian Bancorp from a hold rating to a strong-buy rating and set a $19.00 target price on the stock in a report on Friday, April 26th.

Shares of NASDAQ EBSB opened at $17.82 on Friday. Meridian Bancorp has a 12-month low of $13.67 and a 12-month high of $20.30. The stock has a market cap of $954.12 million, a P/E ratio of 15.77 and a beta of 0.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.20 and a quick ratio of 1.20.

Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. Meridian Bancorp had a net margin of 23.48% and a return on equity of 8.70%. The company had revenue of $46.43 million during the quarter, compared to analysts’ expectations of $46.00 million. As a group, equities analysts forecast that Meridian Bancorp will post 1.26 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.28 annualized dividend and a yield of 1.57%. Meridian Bancorp’s payout ratio is 26.42%.

Large investors have recently bought and sold shares of the business. Legal & General Group Plc boosted its holdings in Meridian Bancorp by 10.3% in the 4th quarter. Legal & General Group Plc now owns 8,597 shares of the savings and loans company’s stock valued at $123,000 after purchasing an additional 806 shares during the last quarter. SG Americas Securities LLC acquired a new position in Meridian Bancorp in the 1st quarter valued at about $156,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Meridian Bancorp by 508.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,008 shares of the savings and loans company’s stock worth $157,000 after acquiring an additional 8,362 shares during the last quarter. Kessler Investment Group LLC lifted its holdings in shares of Meridian Bancorp by 14.4% in the 1st quarter. Kessler Investment Group LLC now owns 10,963 shares of the savings and loans company’s stock worth $172,000 after acquiring an additional 1,382 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Meridian Bancorp by 9.0% in the 4th 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. Institutional investors own 65.37% of the company’s stock.

Meridian Bancorp Company Profile

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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