Campbell & CO Investment Adviser LLC Invests $2.49 Million in Eastern Bankshares, Inc. $EBC

Campbell & CO Investment Adviser LLC purchased a new position in Eastern Bankshares, Inc. (NASDAQ:EBC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 162,818 shares of the company’s stock, valued at approximately $2,486,000. Campbell & CO Investment Adviser LLC owned about 0.08% of Eastern Bankshares at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in EBC. Savant Capital LLC grew its stake in Eastern Bankshares by 3.1% during the 2nd quarter. Savant Capital LLC now owns 31,885 shares of the company’s stock worth $487,000 after buying an additional 973 shares during the last quarter. RFG Bristol Wealth Advisors LLC acquired a new stake in Eastern Bankshares in the second quarter worth about $153,000. Bryce Point Capital LLC grew its stake in shares of Eastern Bankshares by 2.4% during the second quarter. Bryce Point Capital LLC now owns 45,216 shares of the company’s stock worth $690,000 after acquiring an additional 1,072 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Eastern Bankshares by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 1,249,630 shares of the company’s stock valued at $19,082,000 after acquiring an additional 6,085 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Eastern Bankshares during the second quarter valued at about $811,000. 71.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Quincy Lee Miller acquired 13,706 shares of the stock in a transaction on Wednesday, August 27th. The shares were acquired at an average price of $17.07 per share, for a total transaction of $233,961.42. Following the transaction, the president owned 13,706 shares in the company, valued at approximately $233,961.42. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO R David Rosato bought 10,000 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were purchased at an average cost of $17.08 per share, with a total value of $170,800.00. Following the completion of the acquisition, the chief financial officer owned 30,000 shares in the company, valued at approximately $512,400. This represents a 50.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 73,706 shares of company stock valued at $1,265,261 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EBC. Weiss Ratings reissued a “sell (d+)” rating on shares of Eastern Bankshares in a research report on Wednesday, October 8th. Cowen assumed coverage on shares of Eastern Bankshares in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Finally, TD Cowen started coverage on shares of Eastern Bankshares in a report on Thursday, September 25th. They set a “buy” rating and a $23.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.50.

Eastern Bankshares Stock Performance

Shares of NASDAQ EBC opened at $17.55 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.01. Eastern Bankshares, Inc. has a 12 month low of $13.51 and a 12 month high of $19.40. The company has a 50 day simple moving average of $17.80 and a two-hundred day simple moving average of $16.29. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 70.20 and a beta of 0.95.

Eastern Bankshares (NASDAQ:EBC) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.32 earnings per share for the quarter. The firm had revenue of $162.26 million for the quarter. Eastern Bankshares had a net margin of 4.97% and a return on equity of 8.04%. As a group, analysts predict that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current year.

Eastern Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, December 3rd will be paid a $0.13 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.0%. Eastern Bankshares’s dividend payout ratio is presently 208.00%.

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.