Meridian Bancorp, Inc. (NASDAQ:EBSB) saw a large decrease in short interest in the month of October. As of October 29th, there was short interest totalling 1,150,000 shares, a decrease of 14.8% from the October 14th total of 1,350,000 shares. Approximately 2.5% of the company's stock are sold short. Based on an average daily volume of 238,400 shares, the days-to-cover ratio is currently 4.8 days.
A number of institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its holdings in shares of Meridian Bancorp by 0.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 148,940 shares of the savings and loans company's stock valued at $3,047,000 after buying an additional 570 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Meridian Bancorp by 10.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,891 shares of the savings and loans company's stock valued at $143,000 after buying an additional 642 shares during the period. Private Capital Management LLC lifted its holdings in shares of Meridian Bancorp by 0.4% in the 2nd quarter. Private Capital Management LLC now owns 173,000 shares of the savings and loans company's stock valued at $3,540,000 after buying an additional 650 shares during the period. Knights of Columbus Asset Advisors LLC raised its holdings in Meridian Bancorp by 1.0% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 91,453 shares of the savings and loans company's stock worth $1,871,000 after purchasing an additional 910 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Meridian Bancorp by 101.9% during the third quarter. Signaturefd LLC now owns 2,392 shares of the savings and loans company's stock worth $50,000 after purchasing an additional 1,207 shares during the last quarter. 67.47% of the stock is owned by institutional investors.
Separately, Zacks Investment Research upgraded Meridian Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday, August 10th.
NASDAQ:EBSB opened at $24.15 on Monday. The stock's 50 day moving average price is $22.18 and its 200 day moving average price is $21.15. The company has a market capitalization of $1.27 billion, a PE ratio of 15.89 and a beta of 1.07. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 0.69. Meridian Bancorp has a 52-week low of $13.43 and a 52-week high of $25.72.
Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings data on Wednesday, October 20th. The savings and loans company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.03). Meridian Bancorp had a return on equity of 9.75% and a net margin of 31.56%. The company had revenue of $49.11 million for the quarter, compared to analyst estimates of $52.38 million. As a group, sell-side analysts anticipate that Meridian Bancorp will post 1.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 5th. Shareholders of record on Tuesday, September 21st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, September 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.66%. Meridian Bancorp's payout ratio is 26.32%.
Meridian Bancorp Company Profile
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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