KLP Kapitalforvaltning AS bought a new position in Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,638 shares of the company's stock, valued at approximately $701,000.
Other hedge funds also recently bought and sold shares of the company. Enterprise Bank & Trust Co raised its holdings in Eastern Bankshares by 3.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 24,234 shares of the company's stock worth $418,000 after purchasing an additional 800 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Eastern Bankshares by 127.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,800 shares of the company's stock worth $30,000 after buying an additional 1,010 shares in the last quarter. Xponance Inc. lifted its holdings in Eastern Bankshares by 9.6% in the fourth quarter. Xponance Inc. now owns 13,778 shares of the company's stock worth $238,000 after buying an additional 1,203 shares during the period. Diversified Trust Co lifted its holdings in Eastern Bankshares by 6.5% in the fourth quarter. Diversified Trust Co now owns 20,971 shares of the company's stock worth $362,000 after buying an additional 1,272 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new stake in Eastern Bankshares during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 71.68% of the company's stock.
Insider Buying and Selling at Eastern Bankshares
In other news, CFO R David Rosato acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $15.40 per share, with a total value 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. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.15% of the stock is owned by company insiders.
Eastern Bankshares Stock Down 2.8 %
Shares of EBC stock traded down $0.42 during mid-day trading on Friday, reaching $14.49. 1,990,058 shares of the company's stock traded hands, compared to its average volume of 1,043,613. The company's 50-day moving average price is $17.33 and its 200-day moving average price 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, Inc. has a 12 month low of $12.22 and a 12 month high of $19.40.
Eastern Bankshares (NASDAQ:EBC - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Eastern Bankshares had a net margin of 11.07% and a return on equity of 6.02%. Equities analysts predict that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current year.
Eastern Bankshares Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Monday, March 3rd. Eastern Bankshares's dividend payout ratio (DPR) is presently 71.64%.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $22.00 target price (up previously from $21.00) on shares of Eastern Bankshares in a research report on Monday, January 27th.
Read Our Latest Stock Analysis on EBC
Eastern Bankshares Company 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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