Eastern Bankshares (EBC) Expected to Announce Quarterly Earnings on Thursday

Eastern Bankshares (NASDAQ:EBC) is projected to release its earnings data after the market closes on Thursday, January 23rd. Analysts expect Eastern Bankshares to post earnings of $0.29 per share and revenue of $211,850.00 billion for the quarter.

Eastern Bankshares (NASDAQ:EBC) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.08). Eastern Bankshares had a return on equity of 4.49% and a net margin of 38.00%. The business had revenue of $299.55 million during the quarter, compared to analyst estimates of $215.92 million. During the same period in the previous year, the company posted $0.32 EPS. On average, analysts expect Eastern Bankshares to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Eastern Bankshares Trading Up 2.0 %

Shares of EBC opened at $17.69 on Thursday. The firm has a market cap of $3.80 billion, a P/E ratio of 7.63 and a beta of 0.94. Eastern Bankshares has a 12 month low of $12.22 and a 12 month high of $19.40. The stock’s 50 day moving average is $17.90 and its two-hundred day moving average is $16.67.

Eastern Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Tuesday, December 3rd were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.48 dividend on an annualized basis and a yield of 2.71%. This is a boost from Eastern Bankshares’s previous quarterly dividend of $0.11. Eastern Bankshares’s dividend payout ratio (DPR) is currently 20.69%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Eastern Bankshares from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Insider Buying and Selling

In related news, Director Deborah C. Jackson sold 5,713 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.56, for a total transaction of $106,033.28. Following the transaction, the director now directly owns 67,284 shares in the company, valued at approximately $1,248,791.04. The trade was a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.15% of the stock is currently owned by insiders.

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.