First Trust Advisors LP boosted its stake in shares of Meridian Bancorp Inc. (NASDAQ:EBSB) by 91.6% during the second quarter, Holdings Channel reports. The institutional investor owned 101,276 shares of the company’s stock after buying an additional 48,414 shares during the period. First Trust Advisors LP owned 0.20% of Meridian Bancorp worth $1,497,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of Meridian Bancorp by 7.2% in the first quarter. Renaissance Technologies LLC now owns 1,342,644 shares of the company’s stock valued at $18,690,000 after buying an additional 90,217 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Meridian Bancorp by 4.1% in the first quarter. JPMorgan Chase & Co. now owns 1,277,635 shares of the company’s stock valued at $17,785,000 after buying an additional 50,499 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Meridian Bancorp during the second quarter valued at $8,455,000. Royce & Associates LP boosted its position in shares of Meridian Bancorp by 53.2% in the first quarter. Royce & Associates LP now owns 336,900 shares of the company’s stock valued at $4,690,000 after buying an additional 117,000 shares in the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in shares of Meridian Bancorp during the second quarter valued at $2,041,000. 66.10% of the stock is owned by institutional investors and hedge funds.
Shares of Meridian Bancorp Inc. (NASDAQ:EBSB) traded down 0.90% on Thursday, reaching $15.45. The company had a trading volume of 23,651 shares. Meridian Bancorp Inc. has a one year low of $12.28 and a one year high of $15.77. The firm has a market cap of $788.35 million, a P/E ratio of 31.53 and a beta of 0.66. The company has a 50-day moving average price of $15.43 and a 200-day moving average price of $14.82.
Meridian Bancorp (NASDAQ:EBSB) last posted its earnings results on Tuesday, July 26th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.03. Meridian Bancorp had a return on equity of 4.44% and a net margin of 17.96%. On average, analysts expect that Meridian Bancorp Inc. will post $0.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.77%. Meridian Bancorp’s dividend payout ratio (DPR) is presently 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.
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