Acadian Asset Management LLC Reduces Holdings in Meridian Bancorp, Inc. (NASDAQ:EBSB)

Acadian Asset Management LLC decreased its holdings in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 523,611 shares of the savings and loans company’s stock after selling 52,239 shares during the period. Acadian Asset Management LLC owned about 1.00% of Meridian Bancorp worth $5,418,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in EBSB. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Meridian Bancorp by 59.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,743 shares of the savings and loans company’s stock valued at $90,000 after acquiring an additional 2,872 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in shares of Meridian Bancorp by 421.0% during the third quarter. BNP Paribas Arbitrage SA now owns 11,082 shares of the savings and loans company’s stock valued at $115,000 after acquiring an additional 8,955 shares during the period. Jane Street Group LLC acquired a new position in shares of Meridian Bancorp during the second quarter valued at $128,000. Commerce Bank boosted its holdings in shares of Meridian Bancorp by 27.3% during the third quarter. Commerce Bank now owns 16,195 shares of the savings and loans company’s stock valued at $167,000 after acquiring an additional 3,475 shares during the period. Finally, Aperio Group LLC boosted its holdings in shares of Meridian Bancorp by 26.9% during the third quarter. Aperio Group LLC now owns 16,466 shares of the savings and loans company’s stock valued at $170,000 after acquiring an additional 3,486 shares during the period. 62.98% of the stock is owned by institutional investors.

EBSB stock opened at $14.25 on Friday. The company has a market capitalization of $746.89 million, a P/E ratio of 11.40 and a beta of 0.90. The company has a 50-day simple moving average of $12.27 and a 200 day simple moving average of $11.55. Meridian Bancorp, Inc. has a fifty-two week low of $8.88 and a fifty-two week high of $20.86. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.04.

Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings data on Sunday, November 1st. The savings and loans company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. Meridian Bancorp had a net margin of 23.56% and a return on equity of 8.74%. Equities analysts anticipate that Meridian Bancorp, Inc. will post 1.28 EPS for the current year.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Meridian Bancorp from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a report on Monday, November 2nd. TheStreet raised shares of Meridian Bancorp from a “c+” rating to a “b-” rating in a report on Monday, November 9th. Finally, BidaskClub raised shares of Meridian Bancorp from a “hold” rating to a “buy” rating in a report on Monday, November 2nd.

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, such as NOW and money market accounts; savings accounts; and certificates of deposit, as well as commercial checking accounts.

See Also: FinTech

Institutional Ownership by Quarter for Meridian Bancorp (NASDAQ:EBSB)

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