Vanguard Group Inc. Raises Holdings in Eastern Bankshares, Inc. (NASDAQ:EBC)

Vanguard Group Inc. lifted its holdings in Eastern Bankshares, Inc. (NASDAQ:EBC) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,382,980 shares of the company’s stock after purchasing an additional 15,850 shares during the quarter. Vanguard Group Inc. owned 9.29% of Eastern Bankshares worth $232,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tortoise Investment Management LLC bought a new stake in Eastern Bankshares in the 4th quarter worth approximately $134,000. Mackenzie Financial Corp purchased a new position in Eastern Bankshares in the fourth quarter worth about $164,000. AlphaMark Advisors LLC bought a new stake in shares of Eastern Bankshares during the 4th quarter valued at about $282,000. Picton Mahoney Asset Management purchased a new stake in shares of Eastern Bankshares during the 4th quarter valued at about $400,000. Finally, Cornercap Investment Counsel Inc. bought a new position in shares of Eastern Bankshares in the 4th quarter worth approximately $548,000. 71.68% of the stock is owned by institutional investors.

Eastern Bankshares Stock Performance

Shares of NASDAQ EBC opened at $13.81 on Tuesday. Eastern Bankshares, Inc. has a 12-month low of $10.65 and a 12-month high of $15.07. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 4.85 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 has a 50 day moving average of $13.44 and a 200 day moving average of $13.53.

Eastern Bankshares (NASDAQ:EBC) last issued its quarterly earnings data on Friday, April 26th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $230.30 million during the quarter, compared to the consensus estimate of $157.52 million. Eastern Bankshares had a net margin of 49.59% and a return on equity of 5.59%. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, research analysts anticipate that Eastern Bankshares, Inc. will post 1.16 earnings per share for the current year.

Eastern Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, June 3rd. Eastern Bankshares’s payout ratio is 15.44%.

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.