Stieven Capital Advisors L.P. Sells 96,092 Shares of Eastern Bankshares, Inc. (NASDAQ:EBC)

Stieven Capital Advisors L.P. decreased its holdings in shares of Eastern Bankshares, Inc. (NASDAQ:EBC - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 722,549 shares of the company's stock after selling 96,092 shares during the period. Eastern Bankshares comprises 2.2% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 17th biggest holding. Stieven Capital Advisors L.P. owned about 0.34% of Eastern Bankshares worth $12,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Enterprise Bank & Trust Co raised its stake in shares of 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 acquiring an additional 800 shares during the last quarter. Signaturefd LLC raised its stake in shares of Eastern Bankshares by 18.3% in the third quarter. Signaturefd LLC now owns 5,194 shares of the company's stock valued at $85,000 after acquiring an additional 802 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Eastern Bankshares by 127.8% in 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. Verdence Capital Advisors LLC raised its stake in shares of Eastern Bankshares by 5.5% in the third quarter. Verdence Capital Advisors LLC now owns 20,486 shares of the company's stock valued at $336,000 after acquiring an additional 1,075 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Eastern Bankshares by 21.1% in the third quarter. Amalgamated Bank now owns 6,595 shares of the company's stock valued at $108,000 after acquiring an additional 1,150 shares during the last quarter. Institutional investors own 71.68% of the company's stock.

Eastern Bankshares Trading Down 0.9 %

Shares of Eastern Bankshares stock traded down $0.17 during midday trading on Wednesday, reaching $18.62. The company had a trading volume of 1,108,391 shares, compared to its average volume of 961,787. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 27.79 and a beta of 0.94. The stock has a fifty day simple moving average of $17.79 and a 200 day simple moving average of $17.18. Eastern Bankshares, Inc. has a 1-year low of $12.22 and a 1-year high of $19.40.

Eastern Bankshares (NASDAQ:EBC - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.34 earnings per share for the quarter, beating 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%. Sell-side analysts expect that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current year.

Eastern Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Tuesday, March 4th. Eastern Bankshares's dividend payout ratio is presently 71.64%.

Insiders Place Their Bets

In other Eastern Bankshares news, Director Deborah C. Jackson sold 5,713 shares of Eastern Bankshares stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $18.56, for a total transaction of $106,033.28. Following the completion of the sale, the director now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.15% of the company's stock.

Analyst Upgrades and Downgrades

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

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.