Single Point Partners LLC acquired a new position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 36,013 shares of the company’s stock, valued at approximately $726,000.
Several other large investors have also added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in Eastern Bankshares by 288.9% during the 2nd quarter. Morgan Stanley now owns 363,864 shares of the company’s stock valued at $7,484,000 after purchasing an additional 270,313 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in Eastern Bankshares by 10.0% during the 4th quarter. Boston Trust Walden Corp now owns 27,500 shares of the company’s stock valued at $555,000 after purchasing an additional 2,500 shares during the last quarter. Strs Ohio lifted its holdings in Eastern Bankshares by 94.1% during the 3rd quarter. Strs Ohio now owns 75,900 shares of the company’s stock valued at $1,540,000 after purchasing an additional 36,800 shares during the last quarter. Diversified Trust Co increased its position in Eastern Bankshares by 57.0% in the 4th quarter. Diversified Trust Co now owns 26,803 shares of the company’s stock valued at $541,000 after acquiring an additional 9,729 shares in the last quarter. Finally, Parametric Portfolio Associates LLC acquired a new stake in Eastern Bankshares in the 2nd quarter valued at about $320,000. 47.79% of the stock is owned by institutional investors.
Several equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Eastern Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, February 15th. Seaport Res Ptn reiterated a “buy” rating on shares of Eastern Bankshares in a research report on Thursday, March 10th.
Shares of NASDAQ:EBC traded down $0.32 on Wednesday, hitting $21.88. The company had a trading volume of 852,331 shares, compared to its average volume of 788,386. Eastern Bankshares, Inc. has a 1-year low of $17.94 and a 1-year high of $23.03. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 24.36 and a beta of 0.91. The stock has a 50 day moving average price of $21.26 and a 200 day moving average price of $20.85.
Eastern Bankshares (NASDAQ:EBC – Get Rating) last released its quarterly earnings results on Thursday, January 27th. The company reported $0.26 EPS for the quarter. Eastern Bankshares had a net margin of 24.62% and a return on equity of 4.86%. The business had revenue of $171.44 million for the quarter. On average, equities analysts predict that Eastern Bankshares, Inc. will post 1.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Thursday, March 3rd were given a dividend of $0.10 per share. This is a boost from Eastern Bankshares’s previous quarterly dividend of $0.08. The ex-dividend date was Wednesday, March 2nd. This represents a $0.40 annualized dividend and a yield of 1.83%. Eastern Bankshares’s dividend payout ratio is currently 44.44%.
In related news, Director Luis Borgen sold 46,270 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $20.31, for a total transaction of $939,743.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.01% of the company’s stock.
Eastern Bankshares Company Profile (Get Rating)
Eastern Bankshares, Inc operates as the bank holding company for Eastern Bank that provides banking products and services primarily to retail, commercial, and small business customers. It operates in two segments, Banking Business and Insurance Agency Business. The company provides interest-bearing and non interest-bearing checking deposits, money market deposits, savings deposits, and time certificates of deposits, as well as debit and credit cards.
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