Eastern Bankshares (EBC) Scheduled to Post Earnings on Thursday

Eastern Bankshares (NASDAQ:EBC) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.20 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Eastern Bankshares (NASDAQ:EBC) last posted its earnings results on Thursday, January 25th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.11). The business had revenue of $160.05 million during the quarter, compared to the consensus estimate of $153.53 million. On average, analysts expect Eastern Bankshares to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Eastern Bankshares Stock Performance

EBC opened at $12.24 on Thursday. 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 company has a market cap of $2.16 billion, a PE ratio of 8.68 and a beta of 0.85. The stock has a 50-day moving average of $13.22 and a 200-day moving average of $13.04. Eastern Bankshares has a 52-week low of $9.93 and a 52-week high of $15.07.

Eastern Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Thursday, February 29th. Eastern Bankshares’s payout ratio is 31.21%.

Insider Activity at Eastern Bankshares

In other Eastern Bankshares news, Director Luis Borgen sold 40,288 shares of the 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 directly owns 42,040 shares in the company, valued at $549,883.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EBC. KBC Group NV acquired a new position in shares of Eastern Bankshares during the fourth quarter worth about $31,000. Point72 Hong Kong Ltd bought a new stake in Eastern Bankshares in the 2nd quarter valued at approximately $56,000. Tower Research Capital LLC TRC boosted its position in Eastern Bankshares by 30.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,474 shares of the company’s stock worth $56,000 after acquiring an additional 1,044 shares during the last quarter. State of Wyoming bought a new position in shares of Eastern Bankshares during the 4th quarter worth approximately $91,000. Finally, Guardian Wealth Management Inc. raised its holdings in shares of Eastern Bankshares by 45.8% in the first quarter. Guardian Wealth Management Inc. now owns 5,536 shares of the company’s stock valued at $119,000 after purchasing an additional 1,739 shares during the last quarter. Institutional investors own 71.68% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Eastern Bankshares in a research report on Friday, January 26th.

Eastern Bankshares Company 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.