Eastern Bankshares (NASDAQ:EBC - Get Free Report) is scheduled to announce its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $0.33 per share for the quarter. Investors interested in listening to the company's conference call can do so using this link.
Eastern Bankshares (NASDAQ:EBC - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $232.72 million for the quarter, compared to the consensus estimate of $157.45 million. Eastern Bankshares had a net margin of 48.38% and a return on equity of 5.06%. During the same quarter in the prior year, the company earned $0.28 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 Price Performance
NASDAQ EBC traded up $0.24 on Thursday, hitting $17.48. 1,056,364 shares of the company were exchanged, compared to its average volume of 1,008,921. The firm has a 50 day moving average of $16.20 and a two-hundred day moving average of $14.71. The company has a market cap of $3.09 billion, a P/E ratio of 6.05 and a beta of 0.89. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.01. Eastern Bankshares has a 1-year low of $10.65 and a 1-year high of $17.49.
Eastern Bankshares Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.11 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.44 annualized dividend and a yield of 2.52%. Eastern Bankshares's dividend payout ratio (DPR) is 15.44%.
Insider Activity
In other news, President Quincy Lee Miller sold 12,676 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $16.66, for a total value of $211,182.16. The sale 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 currently owned by company insiders.
Analysts Set New Price Targets
Several analysts have weighed in on EBC shares. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $19.00 price objective (up from $17.00) on shares of Eastern Bankshares in a report on Monday, July 29th. JPMorgan Chase & Co. raised Eastern Bankshares from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $14.00 to $18.50 in a report on Tuesday, August 6th.
Read Our Latest Report on EBC
Eastern Bankshares Company Profile
(
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.
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