Price Action Don’t Lie: Does Meridian Bancorp, Inc. Have More Gas After Reaching All Time High?

Price Action Don't Lie: Does Meridian Bancorp, Inc. Have More Gas After Reaching All Time High?

The stock of Meridian Bancorp, Inc. (NASDAQ:EBSB) reached all time high today, Nov, 14 and still has $24.11 target or 41.00% above today’s $17.10 share price. This indicates more upside for the $899.71 million company. This technical setup was reported by Barchart.com. If the $24.11 PT is reached, the company will be worth $368.88 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 315,919 shares traded hands or 112.15% up from the average. Meridian Bancorp, Inc. (NASDAQ:EBSB) has risen 19.99% since April 12, 2016 and is uptrending. It has outperformed by 15.00% the S&P500.

According to Zacks Investment Research, “Meridian Bancorp Inc. is a bank holding company for East Boston Savings Bank. The Bank provides financial services to individuals and businesses. It accepts various deposit products, including non-interest-bearing demand deposits; interest-bearing demand accounts; savings accounts; and certificates of deposits, as well as commercial checking accounts. The company also offers loan products consisting of commercial real estate loans, one-to four-family residential loans, multi-family real estate loans, construction loans, commercial business loans, home equity lines of credit, automobile loans, loans secured by passbook or certificate accounts, and overdraft loans. Meridian Bancorp Inc., formerly known as Meridian Interstate Bancorp, Inc., is based in Peabody, Massachusetts.”

Insitutional Activity: The institutional sentiment increased to 1.19 in 2016 Q2. Its up 0.01, from 1.18 in 2016Q1. The ratio improved, as 3 funds sold all Meridian Bancorp, Inc. shares owned while 40 reduced positions. 19 funds bought stakes while 32 increased positions. They now own 34.90 million shares or 2.07% less from 35.63 million shares in 2016Q1.
Cannell Peter B & Co has 1.08M shares for 0.58% of their US portfolio. Cambridge last reported 16,863 shares in the company. Brandywine Investment Management Limited Co accumulated 0.01% or 130,622 shares. State Street owns 931,425 shares or 0% of their US portfolio. Hennessy Advsrs has 0.23% invested in the company for 510,000 shares. Ejf Limited Liability last reported 2.78% of its portfolio in the stock. State Bank Of America De last reported 121,608 shares in the company. Moreover, Numina Management Ltd Limited Liability Company has 0.07% invested in Meridian Bancorp, Inc. (NASDAQ:EBSB) for 25,751 shares. Price Michael F has 100,000 shares for 0.2% of their US portfolio. Chicago Equity Prtnrs last reported 138,080 shares in the company. Barclays Public Limited Liability Corp last reported 0% of its portfolio in the stock. Metropolitan Life Ny has 39,192 shares for 0% of their US portfolio. Globeflex Cap Lp accumulated 99 shares or 0% of the stock. Motco holds 3,264 shares or 0.01% of its portfolio. Schwab Charles Invest Mngmt holds 170,859 shares or 0% of its portfolio.

More news for Meridian Bancorp, Inc. (NASDAQ:EBSB) were recently published by: Globenewswire.com, which released: “Meridian Bancorp, Inc. Announces Quarterly Dividend” on September 01, 2016. Reuters.com‘s article titled: “BRIEF-Meridian Bancorp, Inc. reports Q3 earnings per share $0.18” and published on October 25, 2016 is yet another important article.

EBSB Company Profile

Meridian Bancorp, Inc., incorporated on March 6, 2014, is a bank holding firm for East Boston Savings Bank (the Bank). The Bank is a stock savings bank that conducts its business from approximately 30 locations and three loan centers in the greater Boston metropolitan area. The Bank offers a range of deposit and loan products to individuals and businesses located in its market, which consists of Suffolk, Middlesex and Essex Counties, Massachusetts. The Bank attracts deposits from the public and uses those funds to originate loans, which it holds for investment. The Bank’s lending business also involves the purchase and sale of loan participation interests. The Bank also offers non-deposit financial products through a third-party network arrangement. It offers clients a range of non-deposit financial products, including mutual funds, annuities, stocks and bonds, which are offered and cleared by a third-party broker-dealer. It also offers clients long-term care insurance through a third-party insurance company.

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