Invesco Ltd. Has $8.87 Million Stock Position in Eastern Bankshares, Inc. (NASDAQ:EBC)

Invesco Ltd. lessened its holdings in Eastern Bankshares, Inc. (NASDAQ:EBC) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 514,093 shares of the company’s stock after selling 14,925 shares during the period. Invesco Ltd. owned about 0.24% of Eastern Bankshares worth $8,868,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in EBC. Cerity Partners LLC grew its stake in shares of Eastern Bankshares by 11.8% in the 4th quarter. Cerity Partners LLC now owns 20,791 shares of the company’s stock worth $358,000 after acquiring an additional 2,196 shares in the last quarter. FMR LLC increased its stake in Eastern Bankshares by 1.9% in the 4th quarter. FMR LLC now owns 18,786,337 shares of the company’s stock valued at $324,064,000 after buying an additional 355,262 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Eastern Bankshares by 7.0% during the 4th quarter. Wells Fargo & Company MN now owns 130,818 shares of the company’s stock worth $2,257,000 after buying an additional 8,513 shares in the last quarter. ExodusPoint Capital Management LP boosted its stake in shares of Eastern Bankshares by 62.6% in the 4th quarter. ExodusPoint Capital Management LP now owns 730,493 shares of the company’s stock worth $12,601,000 after buying an additional 281,212 shares during the last quarter. Finally, RFG Bristol Wealth Advisors LLC purchased a new stake in shares of Eastern Bankshares during the fourth quarter valued at approximately $178,000. Institutional investors own 71.68% of the company’s stock.

Insider Activity

In related news, CFO R David Rosato purchased 10,000 shares of Eastern Bankshares stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $15.40 per share, for a total transaction of $154,000.00. Following the completion of the transaction, the chief financial officer now owns 20,000 shares in the company, valued at $308,000. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Eastern Bankshares Price Performance

NASDAQ:EBC opened at $15.49 on Thursday. The company has a market capitalization of $3.31 billion, a P/E ratio of 23.12 and a beta of 0.96. The business has a fifty day simple moving average of $16.17 and a two-hundred day simple moving average of $17.16. Eastern Bankshares, Inc. has a 1 year low of $12.54 and a 1 year high of $19.40.

Eastern Bankshares (NASDAQ:EBC) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts anticipate that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Eastern Bankshares Company 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.