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.

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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.

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