Price Action Don’t Lie: How Analysts Feel About Meridian Bancorp, Inc. After Touching 52-Week High?

Price Action Don't Lie: How Analysts Feel About Meridian Bancorp, Inc. After Touching 52 Week High?

The stock of Meridian Bancorp, Inc. (NASDAQ:EBSB) hit a new 52-week high and has $23.73 target or 35.00% above today’s $17.58 share price. The 6 months bullish chart indicates low risk for the $934.62M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $23.73 price target is reached, the company will be worth $327.12M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 151,766 shares traded hands. Meridian Bancorp, Inc. (NASDAQ:EBSB) has risen 24.02% since April 15, 2016 and is uptrending. It has outperformed by 19.40% 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 Q2 2016. Its up 0.01, from 1.18 in 2016Q1. The ratio increased, 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.
Monarch Prns Asset Management Ltd Liability Corp has invested 0.18% of its portfolio in Meridian Bancorp, Inc. (NASDAQ:EBSB). Northern Tru holds 560,698 shares or 0% of its portfolio. Moreover, Aqr Cap Management has 0% invested in Meridian Bancorp, Inc. (NASDAQ:EBSB) for 39,769 shares. First Tru Advsrs L P last reported 0% of its portfolio in the stock. Aperio Group Incorporated Limited Liability Co last reported 10,264 shares in the company. National Bank Of Montreal Can owns 21,513 shares or 0% of their US portfolio. Geode Capital Management Limited Liability Company accumulated 0% or 414,967 shares. Susquehanna Ltd Liability Partnership last reported 0% of its portfolio in the stock. Strs Ohio holds 4,600 shares or 0% of its portfolio. Diam Limited has invested 0.01% of its portfolio in Meridian Bancorp, Inc. (NASDAQ:EBSB). Voya Invest Mngmt Limited Liability, a Georgia-based fund reported 20,043 shares. Blackrock Advisors Limited Liability Corp accumulated 23,724 shares or 0% of the stock. Moreover, Emerald Mutual Fund Advisers has 0.04% invested in Meridian Bancorp, Inc. (NASDAQ:EBSB) for 45,870 shares. The New York-based Morgan Stanley has invested 0% in Meridian Bancorp, Inc. (NASDAQ:EBSB). Adage Cap Prtn Gp Ltd Limited Liability Company holds 1.95 million shares or 0.08% 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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