Meridian Bancorp Inc (NASDAQ:EBSB) declared a quarterly dividend on Thursday, May 28th, Zacks reports. Stockholders of record on Thursday, June 18th will be paid a dividend of 0.08 per share by the savings and loans company on Thursday, July 2nd. This represents a $0.32 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Wednesday, June 17th.
Meridian Bancorp has a payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Meridian Bancorp to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 64.0%.
Shares of Meridian Bancorp stock opened at $11.02 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $577.47 million, a PE ratio of 8.82 and a beta of 0.89. The business's 50-day moving average price is $11.33 and its 200-day moving average price is $15.44. Meridian Bancorp has a 12 month low of $8.88 and a 12 month high of $20.86.
Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Tuesday, April 21st. The savings and loans company reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. Meridian Bancorp had a return on equity of 9.10% and a net margin of 23.49%. The business had revenue of $44.27 million for the quarter, compared to analyst estimates of $46.94 million. As a group, analysts predict that Meridian Bancorp will post 1.08 earnings per share for the current fiscal year.
EBSB has been the topic of several recent research reports. Zacks Investment Research lowered Meridian Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. TheStreet lowered Meridian Bancorp from a "b-" rating to a "c" rating in a research report on Tuesday, March 17th. Raymond James reduced their price target on Meridian Bancorp from $16.00 to $15.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Finally, BidaskClub lowered Meridian Bancorp from a "sell" rating to a "strong sell" rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of "Hold" and an average price target of $16.00.
About Meridian Bancorp
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 comprising NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts.
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7 Stocks to Buy Before the Economy Reopens
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View the "7 Stocks to Buy Before the Economy Reopens".