Swiss National Bank increased its position in shares of Meridian Bancorp Inc. (NASDAQ:EBSB) by 91.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,200 shares of the company’s stock after buying an additional 42,200 shares during the period. Swiss National Bank owned 0.17% of Meridian Bancorp worth $1,304,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of EBSB. M&T Bank Corp purchased a new position in Meridian Bancorp during the first quarter valued at about $139,000. Legal & General Group Plc raised its position in Meridian Bancorp by 32.3% in the first quarter. Legal & General Group Plc now owns 8,087 shares of the company’s stock valued at $113,000 after buying an additional 1,973 shares during the last quarter. JPMorgan Chase & Co. raised its position in 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 during the last quarter. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in Meridian Bancorp during the second quarter valued at about $708,000. Finally, Royce & Associates LP raised its position in 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 during the last quarter. Hedge funds and other institutional investors own 66.10% of the company’s stock.
Meridian Bancorp Inc. (NASDAQ:EBSB) traded up 1.24% during trading on Friday, reaching $15.57. 104,115 shares of the company traded hands. Meridian Bancorp Inc. has a 12-month low of $12.28 and a 12-month high of $15.77. The firm has a market capitalization of $794.47 million, a price-to-earnings ratio of 31.78 and a beta of 0.66. The firm’s 50 day moving average price is $15.43 and its 200 day moving average price is $14.83.
Meridian Bancorp (NASDAQ:EBSB) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.11 EPS for the quarter, missing the Zacks’ 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%. Equities research analysts expect that Meridian Bancorp Inc. will post $0.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 19th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 15th. Meridian Bancorp’s payout ratio is 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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