Meridian Bancorp Inc (NASDAQ:EBSB) Given Average Rating of “Hold” by Analysts

Meridian Bancorp Inc (NASDAQ:EBSB) has been given a consensus recommendation of “Hold” by the six research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $19.00.

A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Meridian Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. ValuEngine downgraded Meridian Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Raymond James assumed coverage on Meridian Bancorp in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $22.00 target price for the company. Finally, BidaskClub upgraded Meridian Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd.

Several hedge funds and other institutional investors have recently bought and sold shares of EBSB. Meeder Asset Management Inc. acquired a new position in shares of Meridian Bancorp in the 3rd quarter valued at approximately $30,000. Tower Research Capital LLC TRC bought a new stake in shares of Meridian Bancorp in the third quarter worth $55,000. SG Americas Securities LLC bought a new stake in shares of Meridian Bancorp in the third quarter worth $100,000. Aperio Group LLC acquired a new stake in Meridian Bancorp in the second quarter valued at $178,000. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in Meridian Bancorp in the third quarter valued at $190,000. 66.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of Meridian Bancorp stock traded down $0.04 during trading hours on Tuesday, hitting $19.79. The company’s stock had a trading volume of 122,744 shares, compared to its average volume of 138,828. The business has a fifty day moving average of $19.60 and a 200 day moving average of $18.37. Meridian Bancorp has a 1-year low of $13.67 and a 1-year high of $20.32. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $1.06 billion, a PE ratio of 18.67 and a beta of 0.57.

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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