Bank of New York Mellon Corp decreased its position in Meridian Bancorp Inc. (NASDAQ:EBSB) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 209,966 shares of the company’s stock after selling 1,977 shares during the period. Bank of New York Mellon Corp owned approximately 0.41% of Meridian Bancorp worth $3,104,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in EBSB. Metropolitan Life Insurance Co. NY increased its stake in Meridian Bancorp by 2.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 39,192 shares of the company’s stock worth $546,000 after buying an additional 882 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Meridian Bancorp by 1.2% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 128,505 shares of the company’s stock worth $1,789,000 after buying an additional 1,525 shares during the period. Legal & General Group Plc raised its position in shares of Meridian Bancorp by 32.3% in the first quarter. Legal & General Group Plc now owns 8,087 shares of the company’s stock worth $113,000 after buying an additional 1,973 shares during the period. Royal Bank of Canada raised its position in shares of Meridian Bancorp by 31.9% in the first quarter. Royal Bank of Canada now owns 31,046 shares of the company’s stock worth $432,000 after buying an additional 7,503 shares during the period. Finally, M&T Bank Corp acquired a new position in shares of Meridian Bancorp during the first quarter worth about $139,000. Hedge funds and other institutional investors own 66.10% of the company’s stock.
Shares of Meridian Bancorp Inc. (NASDAQ:EBSB) traded up 1.24% on Friday, reaching $15.57. 116,563 shares of the company were exchanged. The stock’s 50-day moving average is $15.45 and its 200 day moving average is $14.84. The firm has a market capitalization of $794.47 million, a PE ratio of 31.78 and a beta of 0.66. Meridian Bancorp Inc. has a 12-month low of $12.28 and a 12-month high of $15.77.
Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.03. Meridian Bancorp had a net margin of 17.96% and a return on equity of 4.44%. On average, analysts forecast that Meridian Bancorp Inc. will post $0.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 15th. Meridian Bancorp’s dividend payout ratio is currently 24.49%.
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.
Want to see what other hedge funds are holding EBSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meridian Bancorp Inc. (NASDAQ:EBSB).
Receive News & Ratings for Meridian Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meridian Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.