Hsbc Holdings PLC Has $366,000 Stake in Eastern Bankshares, Inc. $EBC

Key Points

• Hsbc Holdings PLC has significantly reduced its stake in Eastern Bankshares, Inc. by 79.3%, now holding 22,387 shares valued at approximately $366,000.
• Several institutional investors, including Frontier Capital Management and Dimensional Fund Advisors, have increased their holdings in Eastern Bankshares, with Frontier Capital raising its stake by 112.1%.
• Eastern Bankshares is set to pay a quarterly dividend of $0.13 per share, with a dividend payout ratio currently at -167.74%.

Hsbc Holdings PLC trimmed its stake in Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 79.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,387 shares of the company's stock after selling 85,667 shares during the period. Hsbc Holdings PLC's holdings in Eastern Bankshares were worth $366,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in Eastern Bankshares in the first quarter worth $277,000. GAMMA Investing LLC boosted its stake in Eastern Bankshares by 3,049.8% in the first quarter. GAMMA Investing LLC now owns 29,766 shares of the company's stock worth $488,000 after purchasing an additional 28,821 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Eastern Bankshares in the first quarter worth $3,717,000. Deutsche Bank AG boosted its stake in Eastern Bankshares by 51.8% in the fourth quarter. Deutsche Bank AG now owns 165,040 shares of the company's stock worth $2,847,000 after purchasing an additional 56,291 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Eastern Bankshares by 27.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 402,624 shares of the company's stock worth $6,945,000 after purchasing an additional 86,041 shares in the last quarter. Institutional investors and hedge funds own 71.68% of the company's stock.

Eastern Bankshares Price Performance

Eastern Bankshares stock traded down $0.05 on Friday, reaching $17.30. The company's stock had a trading volume of 1,379,798 shares, compared to its average volume of 1,238,041. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -55.80 and a beta of 0.95. The business's fifty day moving average price is $16.05 and its 200 day moving average price is $15.68. Eastern Bankshares, Inc. has a twelve month low of $13.51 and a twelve month high of $19.40.

Eastern Bankshares (NASDAQ:EBC - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.03. Eastern Bankshares had a positive return on equity of 7.35% and a negative net margin of 6.49%.The company had revenue of $249.10 million for the quarter, compared to analyst estimates of $241.32 million. Equities analysts expect that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current fiscal year.

Eastern Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. Eastern Bankshares's dividend payout ratio is -167.74%.

Insider Activity

In other news, President Quincy Lee Miller purchased 13,706 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average price of $17.07 per share, with a total value of $233,961.42. Following the completion of the purchase, the president directly owned 13,706 shares of the company's stock, valued at $233,961.42. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Eastern Bankshares Company Profile

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. The company provides deposit accounts, interest checking accounts, money market accounts, savings accounts, and time certificates of deposit accounts.