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.
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