FMR LLC boosted its stake in Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,786,337 shares of the company's stock after buying an additional 355,262 shares during the quarter. FMR LLC owned approximately 8.75% of Eastern Bankshares worth $324,064,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Eastern Bankshares by 127.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,800 shares of the company's stock valued at $30,000 after acquiring an additional 1,010 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Eastern Bankshares in the 4th quarter valued at $33,000. KBC Group NV boosted its stake in Eastern Bankshares by 69.5% during the 4th quarter. KBC Group NV now owns 9,246 shares of the company's stock worth $159,000 after purchasing an additional 3,791 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of Eastern Bankshares during the fourth quarter worth $172,000. Finally, RFG Bristol Wealth Advisors LLC acquired a new stake in shares of Eastern Bankshares in the fourth quarter valued at about $178,000. 71.68% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Eastern Bankshares
In other news, CFO R David Rosato bought 10,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were bought at an average price of $15.40 per share, with a total value of $154,000.00. Following the completion of the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at $308,000. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.15% of the company's stock.
Eastern Bankshares Price Performance
Eastern Bankshares stock traded up $0.25 during trading on Tuesday, reaching $14.71. 477,723 shares of the company were exchanged, compared to its average volume of 1,058,837. The stock's 50 day simple moving average is $16.71 and its two-hundred day simple moving average is $17.23. The company has a market capitalization of $3.14 billion, a P/E ratio of 21.98 and a beta of 0.96. Eastern Bankshares, Inc. has a 52-week low of $12.22 and a 52-week high of $19.40.
Eastern Bankshares (NASDAQ:EBC - Get Free Report) last announced its quarterly 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 net margin of 11.07% and a return on equity of 6.02%. As a group, equities analysts forecast that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current year.
Eastern Bankshares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Monday, March 3rd. Eastern Bankshares's dividend payout ratio (DPR) is presently 71.64%.
Analysts Set New Price Targets
Separately, Keefe, Bruyette & Woods restated an "outperform" rating and set a $22.00 price target (up from $21.00) on shares of Eastern Bankshares in a research report on Monday, January 27th.
Check Out Our Latest Stock Report on Eastern Bankshares
Eastern Bankshares Profile
(
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.
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