Meridian Bancorp Inc (NASDAQ:EBSB) declared a quarterly dividend on Friday, March 1st, Wall Street Journal reports. Investors of record on Tuesday, March 19th will be paid a dividend of 0.07 per share by the savings and loans company on Tuesday, April 2nd. This represents a $0.28 annualized dividend and a yield of 1.77%. The ex-dividend date is Monday, March 18th.

Meridian Bancorp has increased its dividend payment by an average of 88.2% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Meridian Bancorp has a payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Meridian Bancorp to earn $1.32 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 21.2%.

Shares of EBSB opened at $15.81 on Friday. The firm has a market capitalization of $846.09 million, a P/E ratio of 14.92 and a beta of 0.51. Meridian Bancorp has a one year low of $13.67 and a one year high of $20.75. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.80.

Meridian Bancorp (NASDAQ:EBSB) last posted its quarterly earnings results on Tuesday, January 22nd. The savings and loans company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). The company had revenue of $42.31 million during the quarter, compared to analyst estimates of $45.20 million. Meridian Bancorp had a return on equity of 8.34% and a net margin of 23.56%. On average, research analysts expect that Meridian Bancorp will post 1.2 EPS for the current fiscal year.

In other Meridian Bancorp news, EVP Edward J. Merritt sold 2,800 shares of the firm’s stock in a transaction on Monday, January 28th. The shares were sold at an average price of $15.80, for a total value of $44,240.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gregory F. Natalucci sold 7,000 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $15.76, for a total transaction of $110,320.00. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.

Several research firms have issued reports on EBSB. BidaskClub lowered shares of Meridian Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Hovde Group restated a “hold” rating and issued a $15.00 price target on shares of Meridian Bancorp in a research report on Monday, January 28th. Finally, Zacks Investment Research lowered shares of Meridian Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd.

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Meridian Bancorp Company 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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Dividend History for Meridian Bancorp (NASDAQ:EBSB)

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