Last $10.75 USD
Change Today -0.02 / -0.19%
Volume 263.8K
EBSB On Other Exchanges
Symbol
Exchange
NASDAQ GS
Berlin
As of 8:10 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

meridian bancorp inc (EBSB) Snapshot

Open
$10.77
Previous Close
$10.77
Day High
$10.81
Day Low
$10.63
52 Week High
03/6/14 - $11.53
52 Week Low
08/30/13 - $7.96
Market Cap
588.0M
Average Volume 10 Days
514.3K
EPS TTM
$0.36
Shares Outstanding
54.7M
EX-Date
--
P/E TM
29.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for MERIDIAN BANCORP INC (EBSB)

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meridian bancorp inc (EBSB) Details

Meridian Bancorp, Inc. operates as a holding company for East Boston Savings Bank that provides financial services to individuals and businesses primarily in Suffolk, Middlesex, and Essex Counties, Massachusetts. It accepts various deposit products, including non-interest-bearing demand deposits comprising checking accounts; interest-bearing demand accounts, such as NOW and money market 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. In addition, it provides non-deposit products that include mutual funds, annuities, stocks, and bonds through a third party broker-dealer; and long-term care insurance products. As of December 31, 2013, the company conducted its business through approximately 27 full service offices and 3 loan centers. The company was founded in 1848 and is based in Peabody, Massachusetts.

369 Employees
Last Reported Date: 04/28/14
Founded in 1848

meridian bancorp inc (EBSB) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $729.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $261.5K
Director and President of Mt. Washington Bank
Total Annual Compensation: $369.8K
Executive Vice President of East Boston Savin...
Total Annual Compensation: $293.8K
Compensation as of Fiscal Year 2013.

meridian bancorp inc (EBSB) Key Developments

Meridian Interstate Bancorp, Inc Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Net Charge-Offs for the Second Quarter Ended June 30, 2014

Meridian Interstate Bancorp, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company announced net income of $5.5 million, or $0.25 per diluted share compared to $3.0 million, or $0.14 per diluted share, for the quarter ended June 30, 2013. Return on average assets was 0.78% compared to 0.50% for the quarter ended June 30, 2013. Return on average equity was 8.52% compared to 5.03% for the quarter ended June 30, 2013. Net interest income increased $2.9 million, or 15.9%, to $21.2 million for the quarter ended June 30, 2014 from $18.3 million for the quarter ended June 30, 2013. Income before income taxes was $8,299,000 compared to $4,225,000 a year ago. Book value per share was $11.78 compared to $10.74 a year ago. Tangible book value Per share was $11.17 compared to $10.60 a year ago. For the six months ended June 30, 2014, the company’s net income was $10.3 million, or $0.47 per diluted share compared to $6.1 million, or $0.28 per diluted share, for the six months ended June 30, 2013. The Company's return on average assets was 0.74% compared to 0.51% for the six months ended June 30, 2013. Return on average equity was 8.06% compared to 5.12% for the six months ended June 30, 2013. Net interest income increased $5.9 million, or 16.4%, to $41.8 million from $35.9 million for the six months ended June 30, 2013. The increases in net interest income were due primarily to loan growth along with declines in the cost of funds, partially offset by declines in yields on interest-earning assets and deposit growth for the second quarter and six months ended June 30, 2014 compared to the same periods in 2013. Income before income taxes was $15,331,000 compared to $8,660,000 a year ago. Net charge-offs totaled $6,000 for the quarter ended June 30, 2014, or less than 0.01% of average loans outstanding.

Meridian Interstate Bancorp Seeks Acquisitions

Meridian Interstate Bancorp, Inc. (NasdaqGS:EBSB) is offering up to 31.63 million shares of common stock for sale at $10.00 per share. Meridian Interstate may use the proceeds to invest in securities, to pay cash dividends to stockholders, to repurchase shares of our common stock, to finance the potential acquisition of financial institutions or financial services companies, although we do not currently have any agreements or understandings regarding any specific acquisition transaction and for other general corporate purposes.

Meridian Interstate Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reports Net Charge-Offs for the First Quarter Ended March 31, 2014

Meridian Interstate Bancorp, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. The company reported net income of $4.8 million or $0.22 per basic and diluted share for the quarter ended March 31, 2014, up from $3.1 million, or $0.14 per basic and diluted share for the quarter ended March 31, 2013. Total interest and dividend income was $25.6 million against $22.4 million last year. Net interest income was $20.6 million against $17.6 million last year. Income before income taxes was $7.0 million against $4.4 million last year. The company's return on average assets was 0.70% for the quarter ended March 31, 2014, up from 0.53% for the quarter ended March 31, 2013. For the quarter ended March 31, 2014, the company's return on average equity was 7.59%, up from 5.20% for the quarter ended March 31, 2013. Book value per share was $11.45 against $10.74 at March 31, 2013. Tangible book value per share was $10.83 against $10.13 at March 31, 2013. The increase in net interest income was due primarily to loan growth along with declines in the cost of funds, partially offset by declines in yields on interest-earning assets and deposit growth for the quarter ended March 31, 2014 compared to the quarter ended March 31, 2013. Net charge-offs totaled $27,000 for the quarter ended March 31, 2014 as compared to $881,000 for the quarter ended March 31, 2013.

 

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Industry Analysis

EBSB

Industry Average

Valuation EBSB Industry Range
Price/Earnings 29.7x
Price/Sales 5.9x
Price/Book 2.2x
Price/Cash Flow 30.0x
TEV/Sales 0.1x
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