61,085 Shares in Eastern Bankshares, Inc. (NASDAQ:EBC) Acquired by White Pine Capital LLC

White Pine Capital LLC purchased a new position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 61,085 shares of the company's stock, valued at approximately $867,000.

A number of other hedge funds have also bought and sold shares of EBC. FMR LLC increased its holdings in Eastern Bankshares by 24.9% in the 3rd 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 during the period. William Blair Investment Management LLC increased its holdings in Eastern Bankshares by 25.1% in the 3rd quarter. William Blair Investment Management LLC now owns 2,570,356 shares of the company's stock valued at $32,232,000 after buying an additional 516,200 shares during the period. Impax Asset Management Group plc increased its holdings in Eastern Bankshares by 53.1% in the 3rd quarter. Impax Asset Management Group plc now owns 750,000 shares of the company's stock valued at $9,405,000 after buying an additional 260,000 shares during the period. Richard Bernstein Advisors LLC bought a new position in Eastern Bankshares in the 3rd quarter valued at about $2,781,000. Finally, Vanguard Group Inc. increased its holdings in Eastern Bankshares by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 16,367,130 shares of the company's stock valued at $205,244,000 after buying an additional 100,820 shares during the period. 71.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Eastern Bankshares in a report on Friday, January 26th.

Insider Activity at Eastern Bankshares

In related news, Director Luis Borgen sold 40,288 shares of Eastern Bankshares stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $13.08, for a total transaction of $526,967.04. Following the sale, the director now directly owns 42,040 shares in the company, valued at approximately $549,883.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.15% of the stock is currently owned by insiders.

Eastern Bankshares Price Performance

Shares of Eastern Bankshares stock traded up $0.10 during midday trading on Friday, hitting $13.04. 946,254 shares of the company traded hands, compared to its average volume of 819,752. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 4.58 and a beta of 0.85. 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's fifty day moving average price is $13.11 and its 200-day moving average price is $13.08. Eastern Bankshares, Inc. has a 12 month low of $9.93 and a 12 month high of $15.07.

Eastern Bankshares (NASDAQ:EBC - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.11). The company had revenue of $160.05 million for the quarter, compared to the consensus estimate of $153.53 million. Eastern Bankshares had a net margin of 49.59% and a return on equity of 5.75%. As a group, sell-side analysts forecast that Eastern Bankshares, Inc. will post 1.18 earnings per share for the current year.

Eastern Bankshares Announces Dividend

The business also recently declared 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 3.37%. The ex-dividend date of this dividend is Monday, June 3rd. Eastern Bankshares's dividend payout ratio (DPR) is presently 15.44%.

About Eastern Bankshares

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.