Eastern Bankshares, Inc. (NASDAQ:EBC) CFO Buys $154,000.00 in Stock

Eastern Bankshares, Inc. (NASDAQ:EBC) CFO R David Rosato acquired 10,000 shares of Eastern Bankshares stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Eastern Bankshares Stock Up 3.0 %

NASDAQ:EBC opened at $16.27 on Friday. The firm’s fifty day simple moving average is $17.64 and its 200-day simple moving average is $17.35. The stock has a market cap of $3.47 billion, a PE ratio of 24.28 and a beta of 0.95. Eastern Bankshares, Inc. has a fifty-two week low of $12.22 and a fifty-two week high of $19.40.

Eastern Bankshares (NASDAQ:EBC) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.34 EPS for the quarter, topping 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%. Equities analysts anticipate that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current year.

Eastern Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Monday, March 3rd. Eastern Bankshares’s dividend payout ratio is currently 71.64%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $22.00 target price (up from $21.00) on shares of Eastern Bankshares in a research note on Monday, January 27th.

Hedge Funds Weigh In On Eastern Bankshares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its holdings 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 valued at $30,000 after purchasing an additional 1,010 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Eastern Bankshares in the 4th quarter worth about $33,000. RPg Family Wealth Advisory LLC acquired a new stake in Eastern Bankshares in the 3rd quarter valued at about $41,000. Sterling Capital Management LLC increased its holdings in Eastern Bankshares by 836.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,219 shares of the company’s stock valued at $107,000 after acquiring an additional 5,555 shares in the last quarter. Finally, Amalgamated Bank raised its position in Eastern Bankshares by 21.1% during the third quarter. Amalgamated Bank now owns 6,595 shares of the company’s stock worth $108,000 after acquiring an additional 1,150 shares during the last quarter. 71.68% of the stock is owned by institutional investors and hedge funds.

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.