UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $6.95 Million Stock Position in Eastern Bankshares, Inc. (NASDAQ:EBC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 27.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 402,624 shares of the company's stock after acquiring an additional 86,041 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of Eastern Bankshares worth $6,945,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of EBC. Barclays PLC increased its position in Eastern Bankshares by 284.1% during the third quarter. Barclays PLC now owns 617,306 shares of the company's stock worth $10,118,000 after purchasing an additional 456,586 shares during the last quarter. KBC Group NV grew its position in Eastern Bankshares by 69.5% during the fourth quarter. KBC Group NV now owns 9,246 shares of the company's stock valued at $159,000 after acquiring an additional 3,791 shares during the period. Jennison Associates LLC increased its stake in Eastern Bankshares by 1.5% during the fourth quarter. Jennison Associates LLC now owns 4,028,897 shares of the company's stock worth $69,498,000 after acquiring an additional 59,339 shares during the last quarter. Vest Financial LLC raised its holdings in shares of Eastern Bankshares by 61.1% in the 4th quarter. Vest Financial LLC now owns 142,095 shares of the company's stock worth $2,451,000 after purchasing an additional 53,871 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Eastern Bankshares by 1.0% in the 4th quarter. Rhumbline Advisers now owns 301,626 shares of the company's stock valued at $5,203,000 after purchasing an additional 2,887 shares in the last quarter. 71.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reduced their price target on shares of Eastern Bankshares from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th.

Eastern Bankshares Stock Down 0.4%

Shares of EBC traded down $0.05 during mid-day trading on Thursday, reaching $14.58. 225,265 shares of the stock traded hands, compared to its average volume of 1,148,579. Eastern Bankshares, Inc. has a 12-month low of $12.66 and a 12-month high of $19.40. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 21.72 and a beta of 0.95. The stock has a fifty day simple moving average of $15.08 and a 200 day simple moving average of $16.75.

Eastern Bankshares (NASDAQ:EBC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The business had revenue of $222.40 million during the quarter, compared to the consensus estimate of $226.98 million. Eastern Bankshares had a net margin of 11.07% and a return on equity of 6.02%. On average, equities research analysts expect that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current fiscal year.

Eastern Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.57%. This is a boost from Eastern Bankshares's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, June 3rd. Eastern Bankshares's dividend payout ratio is -80.00%.

Insider Buying and Selling at Eastern Bankshares

In other Eastern Bankshares news, CFO R David Rosato purchased 10,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $15.40 per share, with a total value of $154,000.00. Following the completion of the purchase, the chief financial officer now owns 20,000 shares in the company, valued at $308,000. This trade represents a 100.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Luis Borgen sold 2,348 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $15.68, for a total transaction of $36,816.64. Following the completion of the transaction, the director now owns 27,187 shares of the company's stock, valued at $426,292.16. This trade represents a 7.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Eastern Bankshares 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.