Eastern Bankshares (NASDAQ:EBC - Get Free Report) is anticipated to release its earnings data after the market closes on Thursday, January 23rd. Analysts expect Eastern Bankshares to post earnings of $0.29 per share and revenue of $211,850.00 billion for the quarter. Parties that are interested in registering for the company's earnings conference call can do so using this link.
Eastern Bankshares (NASDAQ:EBC - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.08). The firm had revenue of $299.55 million for the quarter, compared to analyst estimates of $215.92 million. Eastern Bankshares had a net margin of 38.00% and a return on equity of 4.49%. During the same period in the previous year, the company earned $0.32 EPS. On average, analysts expect Eastern Bankshares to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
Eastern Bankshares Stock Performance
Shares of NASDAQ:EBC traded down $0.20 during trading on Thursday, reaching $17.49. The stock had a trading volume of 990,840 shares, compared to its average volume of 818,904. Eastern Bankshares has a 1-year low of $12.22 and a 1-year high of $19.40. The stock has a market cap of $3.75 billion, a PE ratio of 7.54 and a beta of 0.94. The business has a fifty day moving average price of $17.88 and a 200-day moving average price of $16.68.
Eastern Bankshares Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.74%. The ex-dividend date was Tuesday, December 3rd. This is a boost from Eastern Bankshares's previous quarterly dividend of $0.11. Eastern Bankshares's payout ratio is 20.69%.
Insider Activity
In other news, Director Deborah C. Jackson sold 5,713 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.56, for a total transaction of $106,033.28. Following the transaction, the director now owns 67,284 shares of the company's stock, valued at approximately $1,248,791.04. The trade was a 7.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.15% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods increased their target price on shares of Eastern Bankshares from $19.00 to $21.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th.
View Our Latest Analysis on EBC
About Eastern Bankshares
(
Get 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.
Further Reading
Before you consider Eastern Bankshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eastern Bankshares wasn't on the list.
While Eastern Bankshares currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
