Eastern Bankshares, Inc. (NASDAQ:EBC – Get Free Report) announced a quarterly dividend on Thursday, July 25th, Zacks reports. Investors of record on Tuesday, September 3rd will be paid a dividend of 0.11 per share on Monday, September 16th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Tuesday, September 3rd.
Eastern Bankshares has a payout ratio of 31.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Eastern Bankshares to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 29.5%.
Eastern Bankshares Stock Performance
Shares of EBC stock traded up $0.56 during trading on Friday, reaching $16.88. 3,476,123 shares of the company’s stock traded hands, compared to its average volume of 1,545,299. The company has a market capitalization of $2.98 billion, a P/E ratio of 5.92 and a beta of 0.89. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average is $14.11 and its 200 day moving average is $13.66. Eastern Bankshares has a 1 year low of $10.65 and a 1 year high of $17.26.
About Eastern Bankshares
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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