Eastern Bankshares (NASDAQ:EBC - Get Free Report) announced its quarterly earnings results on Friday. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.03, Yahoo Finance reports. The company had revenue of $230.30 million for the quarter, compared to analysts' expectations of $157.52 million. Eastern Bankshares had a net margin of 49.59% and a return on equity of 5.75%. During the same period in the prior year, the company posted $0.38 EPS.
Eastern Bankshares Trading Down 1.7 %
Eastern Bankshares stock traded down $0.22 during trading hours on Monday, reaching $12.82. The stock had a trading volume of 815,323 shares, compared to its average volume of 949,559. The stock has a market cap of $2.26 billion, a PE ratio of 4.58 and a beta of 0.85. 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 current ratio of 0.82 and a quick ratio of 0.82. The company has a fifty day simple moving average of $13.11 and a 200-day simple moving average of $13.09.
Eastern Bankshares Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, June 3rd. Eastern Bankshares's dividend payout ratio is currently 15.44%.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Eastern Bankshares in a research note on Friday, January 26th.
Check Out Our Latest Report on EBC
Insiders Place Their Bets
In other Eastern Bankshares news, Director Luis Borgen sold 40,288 shares of the firm's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $13.08, for a total value of $526,967.04. Following the sale, the director now owns 42,040 shares of the company's stock, valued at approximately $549,883.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.15% of the company's stock.
Eastern Bankshares Company Profile
(
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.
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