Eastern Bankshares, Inc. (NASDAQ:EBC) Holdings Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,020,834 shares of the company's stock after acquiring an additional 20,792 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.94% of Eastern Bankshares worth $34,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its position in shares of Eastern Bankshares by 21.1% in the third quarter. Amalgamated Bank now owns 6,595 shares of the company's stock worth $108,000 after acquiring an additional 1,150 shares in the last quarter. Atria Investments Inc raised its position in Eastern Bankshares by 20.3% in the third quarter. Atria Investments Inc now owns 21,499 shares of the company's stock valued at $352,000 after purchasing an additional 3,634 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Eastern Bankshares during the third quarter worth about $1,943,000. Aigen Investment Management LP acquired a new stake in shares of Eastern Bankshares in the third quarter valued at about $179,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Eastern Bankshares by 283.2% during the 3rd quarter. Victory Capital Management Inc. now owns 117,474 shares of the company's stock valued at $1,925,000 after buying an additional 86,819 shares during the period. Hedge funds and other institutional investors own 71.68% of the company's stock.

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Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $22.00 price objective (up previously from $21.00) on shares of Eastern Bankshares in a research note on Monday, January 27th.

Insider Activity

In other news, CFO R David Rosato purchased 10,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $15.40 per share, for a total transaction of $154,000.00. Following the acquisition, the chief financial officer now owns 20,000 shares of the company's stock, valued at $308,000. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.15% of the company's stock.

Eastern Bankshares Stock Performance

Shares of NASDAQ:EBC traded down $0.14 during trading on Thursday, hitting $16.45. The company's stock had a trading volume of 580,751 shares, compared to its average volume of 977,157. Eastern Bankshares, Inc. has a fifty-two week low of $12.22 and a fifty-two week high of $19.40. The stock's 50-day moving average price is $17.59 and its two-hundred day moving average price is $17.35. The company has a market capitalization of $3.50 billion, a PE ratio of 24.59 and a beta of 0.95.

Eastern Bankshares (NASDAQ:EBC - Get Free Report) last released its earnings results on Thursday, January 23rd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. Eastern Bankshares had a return on equity of 6.02% and a net margin of 11.07%. On average, equities analysts predict that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current fiscal year.

Eastern Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.12 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.92%. Eastern Bankshares's dividend payout ratio (DPR) is presently 71.64%.

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.