2 weeks Ago By Defense World Staff
Wells Fargo & Company MN grew its holdings in Eastern Bankshares, Inc. (NASDAQ:EBC – Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission.
The fund owned 130,818 shares of the company’s stock after purchasing an additional 8,513 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Eastern Bankshares worth $2,257,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new position in Eastern Bankshares during the 4th quarter worth approximately $33,000.
KBC Group NV boosted its position in shares of Eastern Bankshares by 69.5% during the fourth 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.
Whittier Trust Co. acquired a new position in shares of Eastern Bankshares in the 4th quarter valued at $172,000. RFG Bristol Wealth Advisors LLC bought a new stake in shares of Eastern Bankshares in the 4th quarter valued at $178,000.
Finally, Wilmington Savings Fund Society FSB acquired a new stake in Eastern Bankshares during the 3rd quarter worth $220,000. Institutional investors and hedge funds own 71.68% of the company’s stock.
Insider Buying and SellingIn other Eastern Bankshares news, CFO R David Rosato bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $15.40 per share, with a total value of $154,000.
00. Following the completion of the transaction, the chief financial officer now owns 20,000 shares in the company, valued at approximately $308,000. This trade represents a 100.
00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.
10% of the stock is owned by corporate insiders. Eastern Bankshares Stock PerformanceShares of EBC opened at $14.77 on Friday.
The firm has a market cap of $3.15 billion, a P/E ratio of 22.04 and a beta of 0.
96. Eastern Bankshares, Inc. has a twelve month low of $12.
54 and a twelve month high of $19.40. The firm’s 50 day moving average price is $16.
04 and its two-hundred day moving average price is $17.15. Eastern Bankshares (NASDAQ:EBC – Get Free Report) last posted its quarterly earnings data on Thursday, April 24th.
The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.
01. The business had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $226.
98 million. Eastern Bankshares had a net margin of 11.07% and a return on equity of 6.
02%. On average, sell-side analysts anticipate that Eastern Bankshares, Inc. will post 1.
49 earnings per share for the current fiscal year. Eastern Bankshares Increases DividendThe company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.
13 per share. This is a boost from Eastern Bankshares’s previous quarterly dividend of $0.12.
This represents a $0.52 annualized dividend and a dividend yield of 3.52%.
The ex-dividend date of this dividend is Tuesday, June 3rd. Eastern Bankshares’s dividend payout ratio is currently 71.64%.
Analyst Ratings ChangesSeparately, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $22.00 target price (up from $21.00) on shares of Eastern Bankshares in a research note on Monday, January 27th.
Get Our Latest Stock Report on Eastern BanksharesEastern Bankshares Profile (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.Featured StoriesFive stocks we like better than Eastern BanksharesHow to Start Investing in Real EstateShort Sellers Gave Up on These 3 Names Recently3 Natural Gas Stocks That Offer Great Dividend Yields3 Boring Stocks Outperforming the Market This YearStock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be ClosedIf You Wanted To Buy AbbVie and Didn’t, There’s Still Time To Buy.
