Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report ) - Investment analysts at Keefe, Bruyette & Woods dropped their Q2 2024 earnings per share estimates for Eastern Bankshares in a report issued on Sunday, April 28th. Keefe, Bruyette & Woods analyst D. Delmonte now anticipates that the company will post earnings of $0.19 per share for the quarter, down from their prior estimate of $0.29. Keefe, Bruyette & Woods currently has a "Outperform" rating on the stock. The consensus estimate for Eastern Bankshares' current full-year earnings is $1.14 per share. Keefe, Bruyette & Woods also issued estimates for Eastern Bankshares' Q4 2024 earnings at $0.39 EPS, FY2024 earnings at $1.17 EPS, Q3 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.38 EPS and FY2025 earnings at $1.48 EPS.
Get Eastern Bankshares alerts:
Sign Up
Eastern Bankshares Stock Performance Eastern Bankshares stock traded up $0.36 during midday trading on Wednesday, reaching $12.92. 802,918 shares of the company's stock were exchanged, compared to its average volume of 945,486. Eastern Bankshares has a 52 week low of $9.93 and a 52 week high of $15.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 4.53 and a beta of 0.85. The stock's 50-day simple moving average is $13.07 and its 200 day simple moving average is $13.10.
Eastern Bankshares (NASDAQ:EBC - Get Free Report ) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.03. Eastern Bankshares had a return on equity of 5.75% and a net margin of 49.59%. The business had revenue of $230.30 million during the quarter, compared to analysts' expectations of $157.52 million. During the same quarter last year, the company posted $0.38 earnings per share.
Institutional Investors Weigh In On Eastern Bankshares A number of hedge funds and other institutional investors have recently made changes to their positions in EBC. FMR LLC raised its position in shares of Eastern Bankshares by 24.9% in the third quarter. FMR LLC now owns 9,926,166 shares of the company's stock valued at $124,474,000 after buying an additional 1,979,113 shares in the last quarter. Norges Bank acquired a new position in Eastern Bankshares during the fourth quarter valued at approximately $24,543,000. The Manufacturers Life Insurance Company raised its position in Eastern Bankshares by 1,965.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,622,734 shares of the company's stock valued at $23,043,000 after purchasing an additional 1,544,181 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Eastern Bankshares by 20.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,794,640 shares of the company's stock valued at $53,885,000 after purchasing an additional 634,133 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Eastern Bankshares by 19.3% during the fourth quarter. Wellington Management Group LLP now owns 3,464,674 shares of the company's stock valued at $49,198,000 after purchasing an additional 559,754 shares in the last quarter. 71.68% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Eastern Bankshares In other news, Director Luis Borgen sold 40,288 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $13.08, for a total transaction of $526,967.04. Following the completion of the sale, the director now owns 42,040 shares in the company, valued at $549,883.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink . Corporate insiders own 1.15% of the company's stock.
Eastern Bankshares Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Friday, May 31st. Eastern Bankshares's dividend payout ratio is presently 15.44%.
About Eastern Bankshares (
Get 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.
See Also
Before you consider Eastern Bankshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eastern Bankshares wasn't on the list.
While Eastern Bankshares currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
