Eastern Bankshares, Inc. (NASDAQ:EBC) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its holdings in Eastern Bankshares, Inc. (NASDAQ:EBC) by 34.4% during the fourth quarter, Holdings Channel reports. The fund owned 2,841 shares of the company’s stock after selling 1,492 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Eastern Bankshares were worth $52,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of Eastern Bankshares during the 3rd quarter worth approximately $25,000. Nomura Asset Management Co. Ltd. grew its position in 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 buying an additional 1,010 shares during the period. PFS Partners LLC purchased a new position in Eastern Bankshares in the third quarter valued at $32,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Eastern Bankshares in the third quarter worth about $41,000. Finally, Signaturefd LLC boosted its stake in shares of Eastern Bankshares by 18.3% during the 3rd quarter. Signaturefd LLC now owns 5,194 shares of the company’s stock worth $85,000 after acquiring an additional 802 shares in the last quarter. Hedge funds and other institutional investors own 71.68% of the company’s stock.

Eastern Bankshares Price Performance

Shares of Eastern Bankshares stock opened at $18.84 on Monday. The stock has a market capitalization of $4.04 billion, a P/E ratio of 28.12 and a beta of 0.94. The business has a 50 day simple moving average of $17.72 and a two-hundred day simple moving average of $17.06. Eastern Bankshares, Inc. has a 12 month low of $12.22 and a 12 month high of $19.40.

Eastern Bankshares (NASDAQ:EBC) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. Eastern Bankshares had a return on equity of 6.02% and a net margin of 11.07%. As a group, research analysts anticipate that Eastern Bankshares, Inc. will post 1.49 EPS for the current fiscal year.

Eastern Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a yield of 2.55%. Eastern Bankshares’s payout ratio is presently 71.64%.

Wall Street Analysts Forecast Growth

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 research note on Monday, January 27th.

Insider Buying and Selling at Eastern Bankshares

In other news, Director Deborah C. Jackson sold 5,713 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.56, for a total value of $106,033.28. Following the completion of the sale, the director now directly owns 67,284 shares in the company, valued at $1,248,791.04. This represents a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.15% of the stock is owned by insiders.

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.