Xponance Inc. Has $238,000 Holdings in Eastern Bankshares, Inc. (NASDAQ:EBC)

Xponance Inc. grew its position in Eastern Bankshares, Inc. (NASDAQ:EBC) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,778 shares of the company’s stock after acquiring an additional 1,203 shares during the period. Xponance Inc.’s holdings in Eastern Bankshares were worth $238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its stake 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 worth $30,000 after purchasing an additional 1,010 shares in the last quarter. KBC Group NV lifted its position in Eastern Bankshares by 69.5% during the 4th quarter. KBC Group NV now owns 9,246 shares of the company’s stock worth $159,000 after buying an additional 3,791 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in Eastern Bankshares during the 3rd quarter worth about $180,000. Wilmington Savings Fund Society FSB acquired a new stake in Eastern Bankshares in the 3rd quarter valued at about $220,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Eastern Bankshares during the third quarter valued at approximately $232,000. 71.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Eastern Bankshares in a research report on Monday, January 27th.

Eastern Bankshares Trading Down 2.6 %

Shares of NASDAQ EBC opened at $16.32 on Friday. The firm’s 50-day moving average is $17.51 and its 200-day moving average is $17.35. Eastern Bankshares, Inc. has a 1 year low of $12.22 and a 1 year high of $19.40. The firm has a market capitalization of $3.48 billion, a PE ratio of 24.36 and a beta of 0.95.

Eastern Bankshares (NASDAQ:EBC) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. Eastern Bankshares had a return on equity of 6.02% and a net margin of 11.07%. As a group, equities research analysts anticipate that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current fiscal year.

Eastern Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, March 3rd were given a $0.12 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.94%. Eastern Bankshares’s dividend payout ratio is 71.64%.

Insider Buying and Selling

In other news, CFO R David Rosato acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $15.40 per share, for a total transaction of $154,000.00. Following the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $308,000. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.15% of the stock is owned by insiders.

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.