Impax Asset Management Group plc Acquires 275,000 Shares of Eastern Bankshares, Inc. $EBC

Key Points

• Impax Asset Management raised its stake in Eastern Bankshares by 27.5%, acquiring 275,000 shares to hold 1,275,000 shares (about 0.60% of the company) valued at roughly $23.5 million.
• Eastern Bankshares missed Q1 estimates (EPS $0.40 vs. $0.44 expected; revenue $295.9M vs. $308.7M) but increased its quarterly dividend 15.4% to $0.15 (about a 3.0% yield), while the payout ratio remains elevated at ~126.8%.
• Wall Street is generally constructive with a consensus "Moderate Buy" and an average price target near $22.75 (several firms at $23–$24), even as institutional ownership is high (71.7%) and insiders have recently sold sizable stakes.

Impax Asset Management Group plc lifted its holdings in Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 27.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,275,000 shares of the company's stock after acquiring an additional 275,000 shares during the period. Impax Asset Management Group plc owned 0.60% of Eastern Bankshares worth $23,498,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EBC. Allworth Financial LP lifted its holdings in shares of Eastern Bankshares by 36.4% in the 3rd quarter. Allworth Financial LP now owns 2,189 shares of the company's stock valued at $40,000 after acquiring an additional 584 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of Eastern Bankshares in the 3rd quarter valued at about $49,000. Flagship Harbor Advisors LLC bought a new position in shares of Eastern Bankshares in the 4th quarter valued at about $52,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Eastern Bankshares in the 3rd quarter valued at about $57,000. Finally, Bayforest Capital Ltd bought a new stake in Eastern Bankshares in the fourth quarter worth about $60,000. Institutional investors own 71.68% of the company's stock.

Wall Street Analysts Forecast Growth

EBC has been the subject of several analyst reports. TD Cowen raised their price objective on shares of Eastern Bankshares from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Piper Sandler initiated coverage on shares of Eastern Bankshares in a research note on Monday, March 16th. They issued an "overweight" rating and a $23.00 price objective for the company. Stephens initiated coverage on shares of Eastern Bankshares in a research note on Wednesday, April 15th. They issued an "overweight" rating and a $24.00 price objective for the company. Zacks Research raised shares of Eastern Bankshares from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Eastern Bankshares in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.75.

Eastern Bankshares News Roundup

Here are the key news stories impacting Eastern Bankshares this week:

• Positive Sentiment: EBC raised its quarterly dividend to $0.15 (a 15.4% increase), implying about a 3.0% yield and an ex-dividend date of June 5, supporting income-focused investors and signaling confidence in capital positions.
• Neutral Sentiment: Q1 2026 earnings call transcript is available for deeper color on loan growth, margins, credit trends and management's outlook — useful for investors parsing whether the miss is transitory. Earnings Call Transcript
• Neutral Sentiment: Analyst write-ups (Zacks) provide metric-level comparisons to estimates and year-ago results that can help identify where revenue/earnings underperformance occurred versus expectations. Zacks Key Metrics
• Neutral Sentiment: Reported short-interest data for April is inconsistent (shows 0 shares and NaN change), so there’s no clear signal from short sellers; treat that entry as unreliable until clarified by a bona fide short-interest report.
• Negative Sentiment: Earnings and revenue missed consensus: Q1 EPS $0.40 vs. $0.44 expected and revenue $295.9M vs. ~$308.7M expected. The miss is the main driver of near-term share weakness as investors reassess growth and margin drivers. Press Release / Slide Deck Zacks Earnings Recap

Eastern Bankshares Stock Performance

Eastern Bankshares stock opened at $19.90 on Friday. The company has a 50 day moving average price of $19.95 and a 200-day moving average price of $19.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.91 and a current ratio of 0.91. Eastern Bankshares, Inc. has a fifty-two week low of $14.10 and a fifty-two week high of $22.58. The company has a market capitalization of $4.67 billion, a PE ratio of 11.18 and a beta of 0.76.

Eastern Bankshares (NASDAQ:EBC - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). Eastern Bankshares had a net margin of 26.28% and a return on equity of 8.60%. The company had revenue of $295.90 million for the quarter, compared to the consensus estimate of $308.68 million. As a group, equities analysts forecast that Eastern Bankshares, Inc. will post 1.94 earnings per share for the current year.

Eastern Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a dividend of $0.15 per share. This is a boost from Eastern Bankshares's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, June 5th. Eastern Bankshares's payout ratio is presently 126.83%.

Insider Activity

In related news, CAO David Andrew Ahlquist sold 10,000 shares of Eastern Bankshares stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $21.65, for a total transaction of $216,500.00. Following the transaction, the chief accounting officer directly owned 9,518 shares of the company's stock, valued at $206,064.70. This trade represents a 51.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald Michael Westermann sold 21,256 shares of Eastern Bankshares stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $20.11, for a total transaction of $427,458.16. Following the transaction, the insider directly owned 20,860 shares in the company, valued at approximately $419,494.60. The trade was a 50.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.26% of the company's stock.

About Eastern Bankshares

Eastern Bankshares, Inc is the bank holding company for Eastern Bank, one of the oldest and largest mutual banks in the United States. Founded in 1818 as Salem Savings Bank and later rebranded as Eastern Bank in 1989, the company preserved its mutual ownership structure for more than two centuries. In March 2020, it completed an initial public offering and began trading on the Nasdaq under the ticker EBC, while continuing to emphasize its community-focused heritage.

Through its primary subsidiary, Eastern Bank, the company delivers a broad range of commercial and consumer banking products.

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