Vest Financial LLC Purchases 2,868 Shares of Eastern Bankshares, Inc. (NASDAQ:EBC)

Vest Financial LLC boosted its position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC) by 3.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,224 shares of the company’s stock after buying an additional 2,868 shares during the quarter. Vest Financial LLC’s holdings in Eastern Bankshares were worth $1,446,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Eastern Bankshares in the 3rd quarter worth approximately $25,000. Sachetta LLC purchased a new position in Eastern Bankshares during the 2nd quarter valued at $35,000. Innealta Capital LLC bought a new position in Eastern Bankshares in the 2nd quarter worth $85,000. CWM LLC lifted its position in shares of Eastern Bankshares by 1,383.3% in the 3rd quarter. CWM LLC now owns 5,874 shares of the company’s stock worth $96,000 after purchasing an additional 5,478 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Eastern Bankshares during the 3rd quarter valued at about $124,000. Institutional investors own 71.68% of the company’s stock.

Insider Transactions at Eastern Bankshares

In related news, President Quincy Lee Miller sold 12,676 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $16.66, for a total transaction of $211,182.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.15% of the company’s stock.

Eastern Bankshares Trading Down 1.1 %

NASDAQ:EBC opened at $17.28 on Monday. Eastern Bankshares, Inc. has a one year low of $10.65 and a one year high of $17.49. The company’s 50-day simple moving average is $16.30 and its 200 day simple moving average is $14.78. The firm has a market capitalization of $3.05 billion, a P/E ratio of 6.06 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.84 and a quick ratio of 0.84.

Eastern Bankshares (NASDAQ:EBC) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. Eastern Bankshares had a return on equity of 5.06% and a net margin of 48.38%. The firm had revenue of $232.72 million for the quarter, compared to analysts’ expectations of $157.45 million. During the same period in the previous year, the firm posted $0.28 EPS. As a group, analysts forecast that Eastern Bankshares, Inc. will post 1.11 EPS for the current fiscal year.

Eastern Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 annualized dividend and a yield of 2.55%. Eastern Bankshares’s dividend payout ratio (DPR) is presently 15.44%.

Analysts Set New Price Targets

EBC has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $19.00 price objective (up from $17.00) on shares of Eastern Bankshares in a report on Monday, July 29th. JPMorgan Chase & Co. upgraded Eastern Bankshares from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $18.50 in a research report on Tuesday, August 6th.

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.