Invesco Ltd. lessened its holdings in Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 484,783 shares of the company's stock after selling 29,310 shares during the period. Invesco Ltd. owned 0.23% of Eastern Bankshares worth $7,950,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Eastern Bankshares by 92.1% during the 1st quarter. GAMMA Investing LLC now owns 1,815 shares of the company's stock worth $30,000 after acquiring an additional 870 shares during the last quarter. Barrett & Company Inc. bought a new position in shares of Eastern Bankshares during the 1st quarter worth about $134,000. Cetera Investment Advisers bought a new position in shares of Eastern Bankshares during the 1st quarter worth about $169,000. Net Worth Advisory Group bought a new position in shares of Eastern Bankshares during the 1st quarter worth about $174,000. Finally, GTS Securities LLC bought a new position in shares of Eastern Bankshares during the 4th quarter worth about $206,000. Institutional investors and hedge funds own 71.68% of the company's stock.
Insiders Place Their Bets
In other Eastern Bankshares news, President Quincy Lee Miller bought 13,706 shares of the stock in a transaction that occurred on 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 in the company, valued at $233,961.42. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.
Eastern Bankshares Stock Performance
Shares of NASDAQ:EBC traded up $0.12 on Friday, hitting $17.11. 2,483,778 shares of the company were exchanged, compared to its average volume of 1,232,868. The company's 50 day moving average price is $15.83 and its two-hundred day moving average price is $15.77. Eastern Bankshares, Inc. has a one year low of $13.51 and a one year high of $19.40. 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 firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -55.19 and a beta of 0.94.
Eastern Bankshares (NASDAQ:EBC - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.03. The business had revenue of $249.10 million for the quarter, compared to analysts' expectations of $241.32 million. Eastern Bankshares had a negative net margin of 6.49% and a positive return on equity of 7.35%. Research analysts expect that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current year.
Eastern Bankshares Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, September 3rd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 3.0%. Eastern Bankshares's payout ratio is presently -167.74%.
About Eastern Bankshares
(
Free Report)
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.
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