Highlander Capital Management LLC Decreases Holdings in Meridian Bancorp Inc (EBSB)

Highlander Capital Management LLC reduced its position in shares of Meridian Bancorp Inc (NASDAQ:EBSB) by 29.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,000 shares of the savings and loans company’s stock after selling 12,804 shares during the quarter. Highlander Capital Management LLC owned about 0.06% of Meridian Bancorp worth $582,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Meridian Bancorp during the 1st quarter valued at $144,000. Xact Kapitalforvaltning AB bought a new position in Meridian Bancorp during the 4th quarter valued at $201,000. Commerce Bank bought a new position in Meridian Bancorp during the 4th quarter valued at $230,000. Stone Ridge Asset Management LLC bought a new position in Meridian Bancorp during the 4th quarter valued at $247,000. Finally, Stifel Financial Corp bought a new position in Meridian Bancorp during the 1st quarter valued at $258,000. 69.18% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on EBSB shares. BidaskClub raised Meridian Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. Zacks Investment Research lowered Meridian Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 16th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Meridian Bancorp presently has an average rating of “Hold” and an average price target of $21.50.

In other news, Director James G. Sartori sold 19,852 shares of the stock in a transaction on Monday, June 4th. The stock was sold at an average price of $19.48, for a total transaction of $386,716.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frank Romano bought 14,365 shares of Meridian Bancorp stock in a transaction dated Friday, April 27th. The stock was acquired at an average price of $18.85 per share, with a total value of $270,780.25. The disclosure for this purchase can be found here. Insiders have sold a total of 21,475 shares of company stock valued at $417,494 in the last quarter. Insiders own 5.30% of the company’s stock.

Shares of NASDAQ:EBSB traded down $0.10 on Thursday, reaching $19.35. 400 shares of the company traded hands, compared to its average volume of 227,295. Meridian Bancorp Inc has a fifty-two week low of $15.85 and a fifty-two week high of $21.85. The company has a market capitalization of $1.05 billion, a PE ratio of 20.47 and a beta of 0.28. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.25 and a current ratio of 1.25.

Meridian Bancorp (NASDAQ:EBSB) last announced its quarterly earnings data on Tuesday, April 24th. The savings and loans company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Meridian Bancorp had a net margin of 21.09% and a return on equity of 8.20%. The company had revenue of $42.18 million for the quarter. research analysts forecast that Meridian Bancorp Inc will post 1.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Tuesday, June 19th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, June 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.03%. Meridian Bancorp’s dividend payout ratio (DPR) is presently 21.05%.

Meridian Bancorp Profile

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 Essex, Middlesex, Norfolk, and Suffolk 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.

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

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