11,398 Shares in Eastern Bankshares, Inc. (NASDAQ:EBC) Bought by Ledyard National Bank

Ledyard National Bank bought a new stake in Eastern Bankshares, Inc. (NASDAQ:EBC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,398 shares of the company’s stock, valued at approximately $187,000.

Several other large investors also recently bought and sold shares of EBC. Dimensional Fund Advisors LP grew its holdings in Eastern Bankshares by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,835,761 shares of the company’s stock valued at $67,599,000 after purchasing an additional 950,150 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Eastern Bankshares by 58.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,079,028 shares of the company’s stock valued at $29,065,000 after acquiring an additional 764,881 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Eastern Bankshares by 23.8% in the first quarter. Jennison Associates LLC now owns 2,993,308 shares of the company’s stock valued at $41,248,000 after acquiring an additional 576,381 shares in the last quarter. Stieven Capital Advisors L.P. purchased a new stake in shares of Eastern Bankshares in the second quarter valued at $6,717,000. Finally, Janus Henderson Group PLC lifted its position in shares of Eastern Bankshares by 11.8% in the first quarter. Janus Henderson Group PLC now owns 3,795,493 shares of the company’s stock valued at $52,300,000 after acquiring an additional 401,027 shares in the last quarter. Institutional investors and hedge funds own 71.68% of the company’s stock.

Eastern Bankshares Stock Performance

NASDAQ EBC opened at $16.60 on Wednesday. The business’s 50-day moving average price is $16.33 and its 200 day moving average price is $14.80. Eastern Bankshares, Inc. has a twelve month low of $10.65 and a twelve month high of $17.49. The company has a market capitalization of $2.93 billion, a PE ratio of 5.82 and a beta of 0.89. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.01.

Eastern Bankshares (NASDAQ:EBC) last released its earnings results on Thursday, July 25th. The company reported $0.22 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $157.45 million. During the same period in the prior year, the business posted $0.28 earnings per share. On average, research analysts predict that Eastern Bankshares, Inc. will post 1.11 earnings per share for the current year.

Eastern Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.65%. Eastern Bankshares’s dividend payout ratio (DPR) is 15.44%.

Insider Transactions at Eastern Bankshares

In other news, President Quincy Lee Miller sold 12,676 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $16.66, for a total value of $211,182.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EBC. JPMorgan Chase & Co. upgraded Eastern Bankshares from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $18.50 in a research report on Tuesday, August 6th. 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 research report on Monday, July 29th.

Eastern Bankshares 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.