JPMorgan Chase & Co. decreased its position in Meridian Bancorp, Inc. (NASDAQ:EBSB) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,214,382 shares of the savings and loans company’s stock after selling 39,011 shares during the period. JPMorgan Chase & Co. owned 2.25% of Meridian Bancorp worth $23,073,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in Meridian Bancorp by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,303,904 shares of the savings and loans company’s stock valued at $38,937,000 after acquiring an additional 164,391 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Meridian Bancorp by 2.8% in the second quarter. Vanguard Group Inc. now owns 2,154,791 shares of the savings and loans company’s stock valued at $36,415,000 after acquiring an additional 58,380 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Meridian Bancorp by 5.8% in the second quarter. Renaissance Technologies LLC now owns 1,683,758 shares of the savings and loans company’s stock valued at $28,456,000 after acquiring an additional 91,700 shares during the last quarter. State Street Corp boosted its holdings in Meridian Bancorp by 3.8% in the second quarter. State Street Corp now owns 1,113,653 shares of the savings and loans company’s stock valued at $18,822,000 after acquiring an additional 40,376 shares during the last quarter. Finally, Boston Partners boosted its holdings in Meridian Bancorp by 6.9% in the third quarter. Boston Partners now owns 785,050 shares of the savings and loans company’s stock valued at $14,641,000 after acquiring an additional 50,730 shares during the last quarter. Institutional investors and hedge funds own 66.13% of the company’s stock.
In other Meridian Bancorp news, Director Anna R. Dimaria sold 14,690 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $20.16, for a total value of $296,150.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Marilyn A. Censullo sold 11,929 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $19.95, for a total value of $237,983.55. The disclosure for this sale can be found here. Insiders sold 41,420 shares of company stock worth $826,454 in the last three months. Insiders own 5.10% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 19th will be paid a $0.05 dividend. This is a positive change from Meridian Bancorp’s previous quarterly dividend of $0.04. The ex-dividend date is Monday, December 18th. This represents a $0.20 annualized dividend and a yield of 0.99%. Meridian Bancorp’s dividend payout ratio is presently 18.60%.
Several equities analysts have weighed in on EBSB shares. BidaskClub lowered Meridian Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $19.00 target price on shares of Meridian Bancorp in a research note on Thursday, August 31st.
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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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