JPMorgan Chase & Co. Sells 39,011 Shares of Meridian Bancorp, Inc. (EBSB)

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.

Meridian Bancorp, Inc. (NASDAQ EBSB) opened at $20.30 on Friday. Meridian Bancorp, Inc. has a one year low of $15.85 and a one year high of $20.73. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1,070.00, a PE ratio of 22.87 and a beta of 0.63.

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.

TRADEMARK VIOLATION WARNING: This report was published by Week Herald and is the property of of Week Herald. If you are accessing this report on another publication, it was stolen and republished in violation of international copyright & trademark laws. The original version of this report can be viewed at https://weekherald.com/2017/12/16/jpmorgan-chase-co-sells-39011-shares-of-meridian-bancorp-inc-ebsb.html.

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.

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

Receive News & Ratings for Meridian Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meridian Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply