21,500 Shares in Eastern Bankshares, Inc. (NASDAQ:EBC) Bought by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL acquired a new position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 21,500 shares of the company's stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of EBC. 1620 Investment Advisors Inc. acquired a new stake in shares of Eastern Bankshares during the 4th quarter valued at approximately $33,000. Sterling Capital Management LLC boosted its position in shares of Eastern Bankshares by 836.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,219 shares of the company's stock worth $107,000 after acquiring an additional 5,555 shares during the last quarter. KBC Group NV raised its holdings in shares of Eastern Bankshares by 69.5% in the 4th quarter. KBC Group NV now owns 9,246 shares of the company's stock worth $159,000 after purchasing an additional 3,791 shares during the period. Whittier Trust Co. purchased a new position in shares of Eastern Bankshares in the 4th quarter valued at $172,000. Finally, RFG Bristol Wealth Advisors LLC purchased a new position in Eastern Bankshares in the fourth quarter valued at about $178,000. Institutional investors and hedge funds own 71.68% of the company's stock.

Insider Transactions at Eastern Bankshares

In other Eastern Bankshares news, CFO R David Rosato purchased 10,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $15.40 per share, for a total transaction of $154,000.00. Following the acquisition, the chief financial officer now owns 20,000 shares of the company's stock, valued at $308,000. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued an "outperform" rating and set a $22.00 target price (up from $21.00) on shares of Eastern Bankshares in a research report on Monday, January 27th.

Eastern Bankshares Price Performance

NASDAQ:EBC traded down $1.02 during midday trading on Friday, reaching $14.77. 2,329,977 shares of the company traded hands, compared to its average volume of 1,071,449. Eastern Bankshares, Inc. has a twelve month low of $12.54 and a twelve month high of $19.40. The company has a fifty day moving average price of $16.12 and a 200 day moving average price of $17.16. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 22.05 and a beta of 0.96.

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 (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Eastern Bankshares had a return on equity of 6.02% and a net margin of 11.07%. The company had revenue of $222.40 million during the quarter, compared to analysts' expectations of $226.98 million. On average, equities research analysts forecast that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current fiscal year.

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.