Published On: Wed, Sep 7th, 2016

Zacks: Brokerages Set $15.63 Target Price for Meridian Bancorp Inc. (NASDAQ:EBSB)

Shares of Meridian Bancorp Inc. (NASDAQ:EBSB) have received an average broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Brokers have set a one year consensus target price of $15.63 for the company and are predicting that the company will post $0.15 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Meridian Bancorp an industry rank of 62 out of 265 based on the ratings given to its competitors.
Meridian Bancorp (NASDAQ:EBSB) traded up 0.32% during mid-day trading on Wednesday, hitting $15.55. 28,113 shares of the stock were exchanged. The company has a 50-day moving average price of $15.23 and a 200-day moving average price of $14.64. The company has a market cap of $793.45 million and a P/E ratio of 31.73. Meridian Bancorp has a one year low of $12.28 and a one year high of $15.77.

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Meridian Bancorp (NASDAQ:EBSB) last posted its earnings results on Tuesday, July 26th. The company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.03. Analysts forecast that Meridian Bancorp will post $0.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 19th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 15th.
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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