American Century Companies Inc. Sells 180,672 Shares of Eastern Bankshares, Inc. $EBC

American Century Companies Inc. reduced its position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC) by 54.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 149,096 shares of the company’s stock after selling 180,672 shares during the quarter. American Century Companies Inc. owned 0.07% of Eastern Bankshares worth $2,445,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EBC. Dimensional Fund Advisors LP lifted its position in shares of Eastern Bankshares by 15.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,019,676 shares of the company’s stock valued at $131,522,000 after buying an additional 1,087,206 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Eastern Bankshares by 12.7% during the 1st quarter. Brown Advisory Inc. now owns 4,180,377 shares of the company’s stock valued at $68,558,000 after buying an additional 469,743 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Eastern Bankshares by 112.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,666,519 shares of the company’s stock valued at $45,997,000 after buying an additional 1,409,471 shares in the last quarter. Northern Trust Corp lifted its position in shares of Eastern Bankshares by 24.0% during the 4th quarter. Northern Trust Corp now owns 2,286,789 shares of the company’s stock valued at $39,447,000 after buying an additional 442,352 shares in the last quarter. Finally, Systematic Financial Management LP lifted its position in shares of Eastern Bankshares by 3.5% during the 4th quarter. Systematic Financial Management LP now owns 1,791,465 shares of the company’s stock valued at $30,903,000 after buying an additional 60,826 shares in the last quarter. 71.68% of the stock is currently owned by institutional investors.

Eastern Bankshares Stock Up 0.7%

EBC stock opened at $17.11 on Monday. Eastern Bankshares, Inc. has a twelve month low of $13.51 and a twelve month high of $19.40. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.62 billion, a P/E ratio of -55.19 and a beta of 0.95. The business’s 50-day moving average price is $15.83 and its 200-day moving average price is $15.73.

Eastern Bankshares (NASDAQ:EBC) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Eastern Bankshares had a positive return on equity of 7.35% and a negative net margin of 6.49%.The firm had revenue of $249.10 million for the quarter, compared to analysts’ expectations of $241.32 million. On average, equities research analysts forecast that Eastern Bankshares, Inc. will post 1.49 EPS for the current year.

Eastern Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. Eastern Bankshares’s payout ratio is presently -167.74%.

Insider Buying and Selling

In other Eastern Bankshares news, President Quincy Lee Miller purchased 13,706 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were bought at an average cost of $17.07 per share, with a total value of $233,961.42. Following the acquisition, the president owned 13,706 shares in the company, valued at approximately $233,961.42. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

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.