Eastern Bankshares, Inc. (NASDAQ:EBC) Position Increased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 27.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 402,624 shares of the company's stock after buying 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 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. 1620 Investment Advisors Inc. acquired a new stake in Eastern Bankshares in the 4th quarter valued at approximately $33,000. Sterling Capital Management LLC increased its position in Eastern Bankshares by 836.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,219 shares of the company's stock valued at $107,000 after acquiring an additional 5,555 shares during the period. KBC Group NV increased its position in Eastern Bankshares by 69.5% in the 4th 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. Whittier Trust Co. acquired a new stake in Eastern Bankshares in the 4th quarter valued at approximately $172,000. Finally, RFG Bristol Wealth Advisors LLC acquired a new stake in Eastern Bankshares in the 4th quarter valued at approximately $178,000. Institutional investors own 71.68% of the company's stock.

Eastern Bankshares Stock Down 0.5%

NASDAQ EBC traded down $0.07 on Thursday, reaching $14.56. 1,289,682 shares of the stock traded hands, compared to its average volume of 1,155,195. The firm's fifty day simple moving average is $15.04 and its 200 day simple moving average is $16.72. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 21.73 and a beta of 0.95. Eastern Bankshares, Inc. has a 12 month low of $12.66 and a 12 month high of $19.40.

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

Eastern Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This is a positive change from Eastern Bankshares's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 3.57%. Eastern Bankshares's dividend payout ratio (DPR) is currently -80.00%.

Insider Transactions at Eastern Bankshares

In other Eastern Bankshares news, CFO R David Rosato bought 10,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $15.40 per share, with a total value of $154,000.00. Following the completion of the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $308,000. This represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Luis Borgen sold 2,348 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $15.60, for a total value of $36,628.80. Following the completion of the sale, the director now directly owns 29,011 shares of the company's stock, valued at approximately $452,571.60. This trade represents a 7.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their target price on 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 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.