Eastern Bankshares, Inc. $EBC Holdings Lowered by Deutsche Bank AG

Deutsche Bank AG trimmed its stake in shares of Eastern Bankshares, Inc. (NASDAQ:EBC) by 9.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,751 shares of the company’s stock after selling 15,289 shares during the quarter. Deutsche Bank AG owned about 0.07% of Eastern Bankshares worth $2,456,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Eastern Bankshares by 92.1% during the 1st quarter. GAMMA Investing LLC now owns 1,815 shares of the company’s stock worth $30,000 after buying an additional 870 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of Eastern Bankshares by 836.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,219 shares of the company’s stock worth $107,000 after purchasing an additional 5,555 shares during the last quarter. Barrett & Company Inc. acquired a new position in shares of Eastern Bankshares in the 1st quarter worth approximately $134,000. Cetera Investment Advisers acquired a new position in shares of Eastern Bankshares in the 1st quarter worth approximately $169,000. Finally, Net Worth Advisory Group acquired a new position in shares of Eastern Bankshares in the 1st quarter worth approximately $174,000. 71.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of Eastern Bankshares from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $20.00.

Eastern Bankshares Stock Performance

Eastern Bankshares stock opened at $15.91 on Thursday. The firm’s 50 day simple moving average is $15.52 and its 200-day simple moving average is $15.87. The company has a market cap of $3.36 billion, a P/E ratio of -51.32 and a beta of 0.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.88 and a quick ratio of 0.88. Eastern Bankshares, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $19.40.

Eastern Bankshares (NASDAQ:EBC) last released its earnings results on Thursday, July 24th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. The business had revenue of $249.10 million for the quarter, compared to the consensus estimate of $241.32 million. Eastern Bankshares had a negative net margin of 6.49% and a positive return on equity of 7.35%. As a group, equities research analysts predict that Eastern Bankshares, Inc. will post 1.49 EPS for the current year.

Eastern Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 3.3%. Eastern Bankshares’s payout ratio is presently -167.74%.

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.