52,198 Shares in Eastern Bankshares, Inc. (NASDAQ:EBC) Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC acquired a new stake in Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,198 shares of the company's stock, valued at approximately $856,000.

Several other large investors have also bought and sold shares of EBC. Signaturefd LLC grew its holdings in shares of Eastern Bankshares by 18.3% in the 3rd quarter. Signaturefd LLC now owns 5,194 shares of the company's stock worth $85,000 after acquiring an additional 802 shares during the last quarter. Arizona State Retirement System increased its stake in Eastern Bankshares by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 44,452 shares of the company's stock worth $621,000 after purchasing an additional 814 shares in the last quarter. Amalgamated Bank raised its holdings in Eastern Bankshares by 21.1% during the 3rd quarter. Amalgamated Bank now owns 6,595 shares of the company's stock worth $108,000 after buying an additional 1,150 shares during the period. V Square Quantitative Management LLC purchased a new stake in Eastern Bankshares during the third quarter valued at about $25,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Eastern Bankshares by 6.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,478 shares of the company's stock worth $538,000 after buying an additional 2,173 shares during the period. Institutional investors own 71.68% of the company's stock.

Eastern Bankshares Stock Up 13.4 %

Shares of EBC stock traded up $2.22 on Wednesday, hitting $18.79. The company's stock had a trading volume of 3,526,836 shares, compared to its average volume of 1,013,902. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 8.10 and a beta of 0.89. Eastern Bankshares, Inc. has a fifty-two week low of $11.24 and a fifty-two week high of $18.80. The firm's fifty day moving average price is $16.49 and its 200-day moving average price is $15.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.84 and a quick ratio of 0.84.

Eastern Bankshares (NASDAQ:EBC - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.08). Eastern Bankshares had a return on equity of 4.76% and a net margin of 38.00%. The company had revenue of $299.55 million during the quarter, compared to analyst estimates of $215.92 million. During the same period in the prior year, the firm earned $0.32 EPS. Research analysts anticipate that Eastern Bankshares, Inc. will post 0.98 EPS for the current year.

Eastern Bankshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.55%. This is a boost from Eastern Bankshares's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 3rd. Eastern Bankshares's dividend payout ratio is 18.97%.

Insider Activity

In other news, President Quincy Lee Miller sold 12,676 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $16.66, for a total transaction of $211,182.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EBC has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $19.00 price target (up previously from $17.00) on shares of Eastern Bankshares in a research report on Monday, July 29th. JPMorgan Chase & Co. raised shares of Eastern Bankshares from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $14.00 to $18.50 in a research note on Tuesday, August 6th.

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.