Eastern Bankshares, Inc. $EBC Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 62.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,116 shares of the company's stock after selling 37,090 shares during the quarter. HighTower Advisors LLC's holdings in Eastern Bankshares were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of EBC. Allspring Global Investments Holdings LLC bought a new stake in shares of Eastern Bankshares during the first quarter worth $277,000. GAMMA Investing LLC lifted its position in shares of Eastern Bankshares by 3,049.8% during 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 during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Eastern Bankshares during the first quarter worth $3,717,000. Deutsche Bank AG lifted its position in shares of Eastern Bankshares by 51.8% during 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Eastern Bankshares by 27.2% during 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 during the last quarter. 71.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eastern Bankshares

In related news, President Quincy Lee Miller bought 13,706 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were bought at an average price of $17.07 per share, for a total transaction of $233,961.42. Following the completion of the purchase, the president directly owned 13,706 shares of the company's stock, valued at approximately $233,961.42. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

Eastern Bankshares Trading Down 0.3%

Shares of NASDAQ:EBC traded down $0.05 on Friday, hitting $17.30. 1,379,798 shares of the company's stock were exchanged, compared to its average volume of 1,213,975. Eastern Bankshares, Inc. has a 12 month low of $13.51 and a 12 month high of $19.40. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of -55.80 and a beta of 0.95. The business's 50 day simple moving average is $16.05 and its two-hundred day simple moving average is $15.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.88 and a quick ratio of 0.88.

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

Eastern Bankshares Dividend Announcement

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

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.