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Last $12.56 USD
Change Today -0.29 / -2.26%
Volume 176.4K
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

meridian bancorp inc (EBSB) Snapshot

Open
$12.88
Previous Close
$12.85
Day High
$12.94
Day Low
$12.55
52 Week High
03/30/15 - $13.30
52 Week Low
05/6/14 - $9.73
Market Cap
688.9M
Average Volume 10 Days
139.6K
EPS TTM
$0.59
Shares Outstanding
54.9M
EX-Date
--
P/E TM
21.3x
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.

378 Employees
Last Reported Date: 03/13/15
Founded in 1848

meridian bancorp inc (EBSB) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $810.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $270.5K
Executive Vice President of East Boston Savin...
Total Annual Compensation: $291.3K
Executive Vice President
Total Annual Compensation: $264.8K
Executive Officer and Director
Total Annual Compensation: $380.4K
Compensation as of Fiscal Year 2014.

meridian bancorp inc (EBSB) Key Developments

Meridian Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Meridian Bancorp, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's net income rose to $6.4 million, or $0.12 per diluted share from $4.8 million, or $0.09 per diluted share, for the quarter ended March 31, 2014. The company's return on average assets was 0.78% for the quarter ended March 31, 2015 compared to 0.70% for the quarter ended March 31, 2014. The company's return on average equity declined to 4.41% for the quarter ended March 31, 2015 compared to 7.59% for the quarter ended March 31, 2014, reflecting the net cash proceeds of $302.3 million raised in the company's second step common stock offering completed on July 28, 2014. Net interest income increased $3.8 million, or 18.4%, to $24.4 million for the quarter ended March 31, 2015 from $20.6 million for the quarter ended March 31, 2014. Book value per share increased to $10.62 at March 31, 2015 from $10.56 at December 31, 2014. Tangible book value per share increased to $10.37 at March 31, 2015 from $10.31 at December 31, 2014. Net interest income, after provision for loan losses was $24,333,000 against $20,469,000 a year ago. Income before income taxes was $9,615,000 against $7,032,000 a year ago.

Meridian Bancorp, Inc. Presents at RBC Capital Markets Financial Institutions Conference 2015, Mar-10-2015

Meridian Bancorp, Inc. Presents at RBC Capital Markets Financial Institutions Conference 2015, Mar-10-2015 . Venue: New York Palace Hotel, 455 Madison Avenue, New York, NY 10022, United States. Speakers: Frank Romano, Executive Vice President, John Migliozzi, Executive Vice President of East Boston Savings Bank, Mark L. Abbate, Chief Financial Officer, Principal Accounting Officer, Senior Vice President, Treasurer, Chief Financial Officer of East Boston Savings Bank, Senior Vice President of East Boston Savings Bank and Treasurer of East Boston Savings Bank, Richard J. Gavegnano, Chairman, Chief Executive Officer, President, Chairman of East Boston Savings Bank, Chairman of The Meridian Financial Services, Chief Executive Officer of Meridian Financial Services, Chief Executive Officer of East Boston Savings Bank and President of East Boston Savings Bank.

Meridian Interstate Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2014

Meridian Interstate Bancorp, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the period, the company reported net income of $6.0 million, or $0.11 per diluted share compared to $4.0 million, or $0.07 per diluted share, for the quarter ended December 31, 2013. The company's return on average assets was 0.75% for the quarter ended December 31, 2014 compared to 0.60% for the quarter ended December 31, 2013. The company's return on average equity was 4.19% for the quarter ended December 31, 2014 compared to 6.49% for the quarter ended December 31, 2013. Net interest income increased $3.6 million, or 17.9%, to $23.6 million for the quarter ended December 31, 2014 from $20.0 million for the quarter ended December 31, 2013. Income before income taxes was $9.099 million against $6.247 million a year ago. Total interest and dividend income was $28.885 million compared to the $25.213 million for the same quarter year ago. For the year ended December 31, 2014, net income was $22.3 million, or $0.42 per diluted share compared to $15.4 million, or $0.29 per diluted share, for the year ended December 31, 2013. For the year ended December 31, 2014, the company's return on average assets was 0.75% compared to 0.62% for the year ended December 31, 2013. For the year ended December 31, 2014, the company's return on average equity was 5.69% compared to 6.39% for the year ended December 31, 2013. Net interest income increased $13.1 million, or 17.4%, to $88.2 million from $75.1 million for the year ended December 31, 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 fourth quarter and year ended December 31, 2014 compared to the same periods in 2013. Income before income taxes was $33.475 million against $23.500 million a year ago. Book value per share was $10.56 against $4.58 a year ago. Tangible book value per share was $10.31 against $4.33 a year ago. Total interest and dividend income was $108.679 million compared to the $95.204 million for the previous year. For the quarter ended December 31, 2014, net charge-offs totaled $100,000 or 0.02% of average loans outstanding.

 

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Industry Analysis

EBSB

Industry Average

Valuation EBSB Industry Range
Price/Earnings 27.9x
Price/Sales 6.3x
Price/Book 1.1x
Price/Cash Flow 28.8x
TEV/Sales 1.8x
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