Meridian Bancorp Inc (EBSB) Stake Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in Meridian Bancorp Inc (NASDAQ:EBSB) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,110,375 shares of the savings and loans company’s stock after purchasing an additional 39,338 shares during the quarter. JPMorgan Chase & Co. owned 2.06% of Meridian Bancorp worth $18,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Alps Advisors Inc. lifted its position in shares of Meridian Bancorp by 22.7% in the third quarter. Alps Advisors Inc. now owns 27,819 shares of the savings and loans company’s stock valued at $473,000 after acquiring an additional 5,145 shares in the last quarter. Banc Funds Co. LLC lifted its position in shares of Meridian Bancorp by 25.0% in the third quarter. Banc Funds Co. LLC now owns 125,001 shares of the savings and loans company’s stock worth $2,125,000 after buying an additional 25,000 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Meridian Bancorp by 16.0% in the third quarter. Allianz Asset Management GmbH now owns 186,643 shares of the savings and loans company’s stock worth $3,173,000 after buying an additional 25,761 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Meridian Bancorp by 84.0% in the third quarter. GSA Capital Partners LLP now owns 100,013 shares of the savings and loans company’s stock worth $1,700,000 after buying an additional 45,670 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Meridian Bancorp by 8.1% in the second quarter. Northern Trust Corp now owns 657,597 shares of the savings and loans company’s stock worth $12,593,000 after buying an additional 49,430 shares in the last quarter. Hedge funds and other institutional investors own 66.07% of the company’s stock.

In other Meridian Bancorp news, Director Gregory F. Natalucci sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $15.76, for a total transaction of $110,320.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James G. Sartori sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $16.25, for a total value of $39,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,300 shares of company stock worth $195,091. Company insiders own 5.30% of the company’s stock.

NASDAQ:EBSB opened at $15.77 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $854.06 million, a P/E ratio of 14.88 and a beta of 0.50. Meridian Bancorp Inc has a 12 month low of $13.67 and a 12 month high of $20.95.

Meridian Bancorp (NASDAQ:EBSB) last posted its earnings results on Tuesday, January 22nd. The savings and loans company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). The firm had revenue of $42.31 million during the quarter, compared to analysts’ expectations of $45.20 million. Meridian Bancorp had a return on equity of 8.37% and a net margin of 23.56%. On average, equities research analysts anticipate that Meridian Bancorp Inc will post 1.2 EPS for the current year.

A number of equities research analysts recently commented on EBSB shares. BidaskClub downgraded Meridian Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Meridian Bancorp from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, October 31st. Finally, Hovde Group reiterated a “hold” rating and issued a $15.00 target price on shares of Meridian Bancorp in a research report on Monday, January 28th.

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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.

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

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