Systematic Financial Management LP Has $30.90 Million Stock Holdings in Eastern Bankshares, Inc. (NASDAQ:EBC)

Systematic Financial Management LP increased its stake in shares of Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,791,465 shares of the company's stock after acquiring an additional 60,826 shares during the quarter. Systematic Financial Management LP owned about 0.83% of Eastern Bankshares worth $30,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Barclays PLC grew its stake in shares of Eastern Bankshares by 284.1% in the third quarter. Barclays PLC now owns 617,306 shares of the company's stock valued at $10,118,000 after buying an additional 456,586 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Eastern Bankshares by 479.2% during the 4th quarter. SG Americas Securities LLC now owns 43,929 shares of the company's stock worth $758,000 after buying an additional 36,344 shares in the last quarter. KBC Group NV lifted 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 in the last quarter. Jennison Associates LLC raised its position in Eastern Bankshares by 1.5% in the 4th quarter. Jennison Associates LLC now owns 4,028,897 shares of the company's stock valued at $69,498,000 after buying an additional 59,339 shares during the last quarter. Finally, Vest Financial LLC increased its holdings in Eastern Bankshares by 61.1% in the 4th quarter. Vest Financial LLC now owns 142,095 shares of the company's stock worth $2,451,000 after acquiring an additional 53,871 shares during the last quarter. Institutional investors own 71.68% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods decreased their price objective on Eastern Bankshares from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, April 28th.

Insider Buying and Selling

In other Eastern Bankshares news, CFO R David Rosato purchased 10,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was bought at an average cost of $15.40 per share, with a total value of $154,000.00. Following the acquisition, the chief financial officer now directly owns 20,000 shares of the company's stock, valued at approximately $308,000. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Eastern Bankshares Stock Performance

EBC stock opened at $15.59 on Friday. The business's 50-day moving average is $15.45 and its two-hundred day moving average is $17.00. Eastern Bankshares, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $19.40. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 23.27 and a beta of 0.97.

Eastern Bankshares (NASDAQ:EBC - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The firm had revenue of $222.40 million during the quarter, compared to analysts' expectations of $226.98 million. Eastern Bankshares had a return on equity of 6.02% and a net margin of 11.07%. Equities analysts predict that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current year.

Eastern Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, June 3rd. This is an increase from Eastern Bankshares's previous quarterly dividend of $0.12. Eastern Bankshares's dividend payout ratio (DPR) is -80.00%.

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.

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