Swiss National Bank lowered its position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC – Get Rating) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 391,000 shares of the company’s stock after selling 6,500 shares during the quarter. Swiss National Bank owned 0.21% of Eastern Bankshares worth $7,218,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Quent Capital LLC acquired a new position in shares of Eastern Bankshares in the 1st quarter valued at $54,000. Silvant Capital Management LLC acquired a new position in shares of Eastern Bankshares in the 2nd quarter valued at $75,000. Guardian Wealth Management Inc. boosted its position in shares of Eastern Bankshares by 45.8% in the 1st quarter. Guardian Wealth Management Inc. now owns 5,536 shares of the company’s stock valued at $119,000 after purchasing an additional 1,739 shares during the period. Bouchey Financial Group Ltd acquired a new position in shares of Eastern Bankshares in the 2nd quarter valued at $185,000. Finally, Truist Financial Corp acquired a new position in shares of Eastern Bankshares in the 2nd quarter valued at $188,000. Institutional investors own 53.67% of the company’s stock.
Insider Transactions at Eastern Bankshares
In other news, Director Greg Allen Sr. Shell sold 24,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $20.10, for a total transaction of $482,400.00. Following the completion of the sale, the director now directly owns 173,465 shares of the company’s stock, valued at approximately $3,486,646.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.36% of the company’s stock.
Eastern Bankshares Stock Up 0.4 %
Eastern Bankshares Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, December 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, December 1st. Eastern Bankshares’s dividend payout ratio (DPR) is presently 35.09%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on EBC shares. TheStreet lowered Eastern Bankshares from a “b-” rating to a “c” rating in a research report on Monday, November 14th. Compass Point reduced their price objective on Eastern Bankshares to $22.00 in a research note on Tuesday, November 1st.
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. It operates in two segments, Banking Business and Insurance Agency Business. The company provides interest-bearing and non interest-bearing checking deposits, money market deposits, savings deposits, and time certificates of deposits, as well as debit and credit cards.
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