Meridian Bancorp, Inc. (NASDAQ: EBSB) sees significant drop in short-term interest

Meridian Bancorp, Inc. (NASDAQ: EBSB) recorded a sharp decline in short-term interest in October. As of October 29, there was short interest totaling 1,150,000 shares, a decrease of 14.8% from the total of 1,350,000 shares as of October 14. About 2.5% of the company’s shares are sold short. Based on an average daily volume of 238,400 shares, the day-to-coverage ratio is currently 4.8 days.

A number of institutional investors have recently bought and sold shares in the company. Commonwealth Equity Services LLC increased its stake 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 loan company valued at $ 3,047,000 after purchasing an additional 570 shares during the period. PNC Financial Services Group Inc. increased its equity stake in Meridian Bancorp by 10.3% in the third quarter. PNC Financial Services Group Inc. now owns 6,891 shares of the savings and loan company valued at $ 143,000 after purchasing an additional 642 shares during the period. Private Capital Management LLC increased its stake in Meridian Bancorp shares by 0.4% in the 2nd quarter. Private Capital Management LLC now owns 173,000 shares of the savings and loan company valued at $ 3,540,000 after purchasing an additional 650 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in Meridian Bancorp by 1.0% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 91,453 shares of the savings and loan company valued at $ 1,871,000 after purchasing an additional 910 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Meridian Bancorp by 101.9% during the third quarter. Signaturefd LLC now owns 2,392 shares of the savings and loan company valued at $ 50,000 after purchasing an additional 1,207 shares in the last quarter. 67.47% of the shares are held by institutional investors.

(A d)

Teeka Tiwari picked Bitcoin at $ 428 before it became the first trillion dollar coin in market value.

Now he’s naming his next top pick for FREE!

Separately, Zacks investment research noted Meridian Bancorp from a “sell” note to a “conservation” note in a report published on Tuesday, August 10.

NASDAQ: EBSB open for $ 24.15 on Mondays. 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 cap 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 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 released its quarterly earnings data on Wednesday, October 20. The savings and loan company reported earnings of $ 0.36 per share for the quarter, missing analyst consensus estimates of $ 0.39 per ($ 0.03). Meridian Bancorp recorded a return on equity of 9.75% and a net margin of 31.56%. The company posted revenue of $ 49.11 million for the quarter, compared to analysts’ estimates of $ 52.38 million. As a group, sell-side analysts predict that Meridian Bancorp will post 1.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 5. Shareholders of record on Tuesday, September 21, received a dividend of $ 0.10 per share. The ex-dividend date of this dividend was Monday, September 20. This represents a dividend of $ 0.40 on an annualized basis and a return of 1.66%. Meridian Bancorp’s payout ratio is 26.32%.

Meridian Bancorp Company Profile

Meridian Bancorp, Inc. operates as a holding company, which provides banking and financial services, through East Boston Savings Bank. It offers banking products such as mobile banking services; retirement services; investments; savings and certificates of deposits; Personal loan; automatic loan; line of credit and cash management.

Read more: What is the meaning of a dead cat bounce?

This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $ 1,000 in Meridian Bancorp now?

Before you consider Meridian Bancorp, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly asking their clients to buy now before the broader market takes hold of … and Meridian Bancorp was not on the list.

While Meridian Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here

About Jon Moses

Check Also

CFPB Releases Spring 2022 Monitoring Highlights | PC Weiner Brodsky Kider

The CFPB recently published its Spring 2022 Watch Highlightsdiscussing the findings of his reviews regarding …