Cubist Systematic Strategies LLC Invests $259,000 in Meridian Bancorp, Inc. (EBSB) Stock

Cubist Systematic Strategies LLC bought a new stake in Meridian Bancorp, Inc. (NASDAQ:EBSB) in the third quarter, Holdings Channel reports. The fund bought 13,894 shares of the savings and loans company’s stock, valued at approximately $259,000.

Other large investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in shares of Meridian Bancorp by 2,313.8% during the second quarter. BNP Paribas Arbitrage SA now owns 5,938 shares of the savings and loans company’s stock worth $100,000 after buying an additional 5,692 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Meridian Bancorp during the second quarter worth about $126,000. Banc Funds Co. LLC acquired a new position in shares of Meridian Bancorp during the second quarter worth about $169,000. Wolverine Trading LLC acquired a new position in shares of Meridian Bancorp during the second quarter worth about $173,000. Finally, Prudential Financial Inc. acquired a new position in shares of Meridian Bancorp during the second quarter worth about $178,000. 66.13% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Marilyn A. Censullo sold 11,929 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $19.95, for a total transaction of $237,983.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard F. Fernandez sold 14,801 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $19.75, for a total value of $292,319.75. The disclosure for this sale can be found here. Insiders have sold 41,420 shares of company stock valued at $826,454 over the last three months. Insiders own 5.10% of the company’s stock.

Meridian Bancorp, Inc. (EBSB) opened at $20.75 on Monday. Meridian Bancorp, Inc. has a 52-week low of $15.85 and a 52-week high of $21.30. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1,120.00, a PE ratio of 24.13 and a beta of 0.64.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Tuesday, December 19th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, December 18th. This is a boost from Meridian Bancorp’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 0.96%. Meridian Bancorp’s dividend payout ratio is 23.26%.

Several research analysts have recently weighed in on EBSB shares. BidaskClub raised Meridian Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $24.50 price objective on shares of Meridian Bancorp in a research report on Friday, December 22nd.

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Meridian Bancorp Company Profile

Meridian Bancorp Inc, formerly Meridian Interstate Bancorp, Inc, is a mid-tier stock holding company of East Boston Savings Bank (the Bank). The Bank is a state-chartered stock savings bank that operates from 24 full-service locations and two loan centers in the Boston metropolitan area. East Boston Savings Bank operates eight of its full-service locations and a loan center under the name Mt.

Want to see what other hedge funds are holding EBSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meridian Bancorp, Inc. (NASDAQ:EBSB).

Institutional Ownership by Quarter for Meridian Bancorp (NASDAQ:EBSB)

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