Endeavour Capital Advisors Inc. Has $8.77 Million Stock Position in Eastern Bankshares, Inc. (NASDAQ:EBC)

Endeavour Capital Advisors Inc. reduced its holdings in Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 41.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 508,662 shares of the company's stock after selling 362,960 shares during the quarter. Eastern Bankshares accounts for 2.8% of Endeavour Capital Advisors Inc.'s portfolio, making the stock its 14th largest position. Endeavour Capital Advisors Inc. owned about 0.24% of Eastern Bankshares worth $8,774,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in EBC. State Street Corp boosted its holdings in shares of Eastern Bankshares by 20.3% in the third quarter. State Street Corp now owns 6,940,433 shares of the company's stock valued at $113,754,000 after acquiring an additional 1,170,276 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Eastern Bankshares by 5.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,591,712 shares of the company's stock valued at $26,088,000 after purchasing an additional 86,810 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Eastern Bankshares by 57.5% during the 4th quarter. HighTower Advisors LLC now owns 59,206 shares of the company's stock valued at $1,021,000 after purchasing an additional 21,621 shares during the period. Geode Capital Management LLC raised its stake in shares of Eastern Bankshares by 23.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,587,497 shares of the company's stock worth $75,203,000 after buying an additional 859,136 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Eastern Bankshares in the third quarter valued at $511,000. Institutional investors own 71.68% of the company's stock.

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Eastern Bankshares Stock Performance

Shares of NASDAQ EBC traded down $0.42 during trading on Friday, hitting $14.49. The company had a trading volume of 1,990,058 shares, compared to its average volume of 1,043,613. Eastern Bankshares, Inc. has a 52 week low of $12.22 and a 52 week high of $19.40. The business's 50-day moving average is $17.33 and its 200 day moving average is $17.34. The company has a market cap of $3.09 billion, a P/E ratio of 21.63 and a beta of 0.96.

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%. On average, research analysts expect that Eastern Bankshares, Inc. will post 1.49 EPS for the current year.

Eastern Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.31%. Eastern Bankshares's dividend payout ratio is currently 71.64%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Eastern Bankshares

In other Eastern Bankshares news, CFO R David Rosato acquired 10,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $15.40 per share, for a total transaction of $154,000.00. Following the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.15% of the stock is owned by insiders.

About Eastern Bankshares

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.