Eastern Bankshares, Inc. (NASDAQ:EBC) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its stake in shares of Eastern Bankshares, Inc. (NASDAQ:EBCGet Rating) by 2.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,715 shares of the company’s stock after purchasing an additional 3,400 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.08% of Eastern Bankshares worth $2,783,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EBC. Bank of New York Mellon Corp boosted its position in Eastern Bankshares by 2.9% during the 1st quarter. Bank of New York Mellon Corp now owns 988,788 shares of the company’s stock worth $21,300,000 after acquiring an additional 28,308 shares during the period. American Century Companies Inc. raised its stake in shares of Eastern Bankshares by 11.6% in the 1st quarter. American Century Companies Inc. now owns 34,256 shares of the company’s stock worth $738,000 after buying an additional 3,557 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Eastern Bankshares by 5.0% in the 1st quarter. HighTower Advisors LLC now owns 19,528 shares of the company’s stock worth $421,000 after buying an additional 927 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Eastern Bankshares by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 95,193 shares of the company’s stock worth $2,050,000 after buying an additional 34,560 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Eastern Bankshares by 130.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 320,133 shares of the company’s stock worth $6,896,000 after buying an additional 181,044 shares in the last quarter. Institutional investors and hedge funds own 54.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on EBC shares. Compass Point dropped their price objective on Eastern Bankshares to $22.00 in a research note on Tuesday, November 1st. TheStreet lowered Eastern Bankshares from a “b-” rating to a “c” rating in a research report on Monday, November 14th.

Eastern Bankshares Stock Up 1.2 %

Shares of Eastern Bankshares stock opened at $17.94 on Friday. The firm has a market capitalization of $3.17 billion, a PE ratio of 15.74 and a beta of 0.80. Eastern Bankshares, Inc. has a 12-month low of $16.64 and a 12-month high of $22.35. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average is $18.24 and its 200-day moving average is $19.39.

Eastern Bankshares (NASDAQ:EBCGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $195.53 million for the quarter, compared to analyst estimates of $195.48 million. Eastern Bankshares had a net margin of 26.17% and a return on equity of 7.21%. Equities analysts anticipate that Eastern Bankshares, Inc. will post 1.34 earnings per share for the current year.

Eastern Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Friday, December 2nd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.23%. The ex-dividend date was Thursday, December 1st. Eastern Bankshares’s payout ratio is 35.09%.

Eastern Bankshares Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Eastern Bankshares (NASDAQ:EBC)

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