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CGC   11.06 (-5.39%)
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T   23.89 (-1.36%)
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ACB   6.44 (-5.15%)
AMC   36.84 (-2.10%)
PFE   52.40 (-2.96%)
BA   198.50 (-0.36%)

Meridian Bancorp, Inc. (NASDAQ:EBSB) Sees Significant Decrease in Short Interest

Monday, November 22, 2021 | MarketBeat

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.

Read More: What is the significance of a dead cat bounce?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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