Meridian Bancorp (EBSB) Upgraded to “Hold” at ValuEngine
A number of other brokerages also recently weighed in on EBSB. BidaskClub raised Meridian Bancorp from a hold rating to a buy rating in a research report on Tuesday, April 30th. Zacks Investment Research raised Meridian Bancorp from a hold rating to a strong-buy rating and set a $19.00 price objective on the stock in a research report on Friday, April 26th. Finally, Hovde Group reaffirmed a hold rating and set a $15.00 price objective on shares of Meridian Bancorp in a research report on Monday, January 28th.
EBSB stock opened at $17.27 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.20 and a current ratio of 1.20. Meridian Bancorp has a twelve month low of $13.67 and a twelve month high of $20.30. The firm has a market capitalization of $926.28 million, a price-to-earnings ratio of 16.29 and a beta of 0.53.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bain Capital Public Equity Management LLC acquired a new stake in Meridian Bancorp in the first quarter worth about $1,761,000. BlueCrest Capital Management Ltd acquired a new stake in Meridian Bancorp in the first quarter worth about $268,000. Zebra Capital Management LLC acquired a new stake in Meridian Bancorp in the first quarter worth about $204,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in Meridian Bancorp in the first quarter worth about $2,795,000. Finally, SEI Investments Co boosted its holdings in Meridian Bancorp by 82.8% in the first quarter. SEI Investments Co now owns 28,757 shares of the savings and loans company’s stock worth $452,000 after acquiring an additional 13,028 shares in the last quarter. 64.34% of the stock is owned by institutional investors and hedge funds.
About Meridian Bancorp
Meridian Bancorp, Inc operates as the holding company for East Boston Savings Bank that provides various financial products and services for individuals and businesses primarily in Suffolk, Norfolk, Middlesex and Essex Counties, Massachusetts. The company accepts various deposit products, including non-interest-bearing demand deposits, such as checking accounts; interest-bearing demand accounts comprising NOW and money market accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts.
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