Meridian Bancorp (EBSB) Stock Rating Lowered by BidaskClub

Meridian Bancorp (NASDAQ:EBSB) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.

Separately, Zacks Investment Research downgraded Meridian Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 3rd.

EBSB stock opened at $15.41 on Friday. Meridian Bancorp has a twelve month low of $15.16 and a twelve month high of $21.85. The stock has a market cap of $832.94 million, a P/E ratio of 16.22 and a beta of 0.21. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.24 and a current ratio of 1.24.



Meridian Bancorp (NASDAQ:EBSB) last released its earnings results on Tuesday, October 23rd. The savings and loans company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Meridian Bancorp had a return on equity of 8.99% and a net margin of 22.37%. The business had revenue of $45.04 million for the quarter, compared to the consensus estimate of $45.10 million. On average, sell-side analysts predict that Meridian Bancorp will post 1.12 earnings per share for the current fiscal year.

In other Meridian Bancorp news, Director James G. Sartori sold 2,400 shares of Meridian Bancorp stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $16.25, for a total transaction of $39,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EBSB. Flagship Harbor Advisors LLC acquired a new stake in Meridian Bancorp during the second quarter valued at approximately $111,000. Caxton Associates LP acquired a new position in shares of Meridian Bancorp in the 3rd quarter worth approximately $184,000. HRT Financial LLC acquired a new position in shares of Meridian Bancorp in the 3rd quarter worth approximately $188,000. Capital Fund Management S.A. acquired a new position in shares of Meridian Bancorp in the 3rd quarter worth approximately $197,000. Finally, Bank of Montreal Can acquired a new position in shares of Meridian Bancorp in the 2nd quarter worth approximately $311,000. 66.17% of the stock is currently owned by institutional investors.

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 Essex, Middlesex, Norfolk, and Suffolk 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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