Eastern Bankshares, Inc. (NASDAQ:EBC) Shares Sold by Single Point Partners LLC

Single Point Partners LLC decreased its holdings in shares of Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 88.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,545 shares of the company's stock after selling 92,522 shares during the quarter. Single Point Partners LLC's holdings in Eastern Bankshares were worth $199,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vest Financial LLC raised its position in shares of Eastern Bankshares by 61.1% in the 4th quarter. Vest Financial LLC now owns 142,095 shares of the company's stock worth $2,451,000 after buying an additional 53,871 shares during the period. Jennison Associates LLC raised its position in shares of Eastern Bankshares by 1.5% in the 4th quarter. Jennison Associates LLC now owns 4,028,897 shares of the company's stock worth $69,498,000 after buying an additional 59,339 shares during the period. KBC Group NV raised its position in shares of Eastern Bankshares by 69.5% in the 4th quarter. KBC Group NV now owns 9,246 shares of the company's stock worth $159,000 after buying an additional 3,791 shares during the period. SG Americas Securities LLC raised its position in shares of Eastern Bankshares by 479.2% in the 4th quarter. SG Americas Securities LLC now owns 43,929 shares of the company's stock worth $758,000 after buying an additional 36,344 shares during the period. Finally, Enterprise Bank & Trust Co raised its position in Eastern Bankshares by 3.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 24,234 shares of the company's stock valued at $418,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 71.68% of the company's stock.

Analysts Set New Price Targets

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

Insider Transactions at Eastern Bankshares

In other news, Director Deborah C. Jackson sold 5,713 shares of Eastern Bankshares stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $18.56, for a total transaction of $106,033.28. Following the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.15% of the company's stock.

Eastern Bankshares Trading Up 0.8 %

NASDAQ:EBC traded up $0.14 during mid-day trading on Friday, hitting $18.61. The company had a trading volume of 525,518 shares, compared to its average volume of 937,776. The business has a fifty day simple moving average of $17.75 and a 200-day simple moving average of $17.11. Eastern Bankshares, Inc. has a 1 year low of $12.22 and a 1 year high of $19.40. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 27.83 and a beta of 0.94.

Eastern Bankshares (NASDAQ:EBC - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.05. Eastern Bankshares had a return on equity of 6.02% and a net margin of 11.07%. As a group, research analysts anticipate that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current year.

Eastern Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Tuesday, March 4th. Eastern Bankshares's payout ratio is 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.