Meridian Bancorp, Inc. (EBSB) To Go Ex-Dividend on September 20th

Meridian Bancorp, Inc. (NASDAQ:EBSB) declared a quarterly dividend on Tuesday, August 31st, Zacks reports. Investors of record on Tuesday, September 21st will be paid a dividend of 0.10 per share by the savings and loans company on Tuesday, October 5th. This represents a $0.40 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Monday, September 20th.

Meridian Bancorp has raised its dividend payment by 88.2% over the last three years. Meridian Bancorp has a dividend payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Meridian Bancorp to earn $1.45 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 27.6%.

Shares of NASDAQ EBSB opened at $19.60 on Friday. Meridian Bancorp has a fifty-two week low of $9.75 and a fifty-two week high of $22.97. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $1.03 billion, a PE ratio of 13.15 and a beta of 1.06. The business has a 50-day simple moving average of $19.89 and a two-hundred day simple moving average of $20.08.

Meridian Bancorp (NASDAQ:EBSB) last released its earnings results on Wednesday, July 21st. The savings and loans company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). Meridian Bancorp had a return on equity of 9.74% and a net margin of 29.73%. The company had revenue of $50.82 million during the quarter, compared to analyst estimates of $52.10 million. On average, sell-side analysts predict that Meridian Bancorp will post 1.5 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Meridian Bancorp stock. Morgan Stanley boosted its stake in shares of Meridian Bancorp, Inc. (NASDAQ:EBSB) by 605.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 476,852 shares of the savings and loans company’s stock after acquiring an additional 409,276 shares during the quarter. Morgan Stanley owned 0.91% of Meridian Bancorp worth $9,757,000 at the end of the most recent reporting period. Institutional investors own 69.86% of the company’s stock.

Separately, Zacks Investment Research raised shares of Meridian Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 10th.

About Meridian Bancorp

Meridian Bancorp, Inc operates as a holding company, which engages in the provision of banking and financial services, through East Boston Savings Bank. It offers banking products such as mobile banking; retirement services; investments; savings and certificates of deposits; personal lending; auto loan; line of credit, and cash management.

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Dividend History for Meridian Bancorp (NASDAQ:EBSB)

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