Eastern Bankshares (EBC) Projected to Post Earnings on Thursday

Eastern Bankshares (NASDAQ:EBC) is anticipated to release its earnings data after the market closes on Thursday, January 23rd. Analysts expect Eastern Bankshares to post earnings of $0.29 per share and revenue of $211,850.00 billion for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Eastern Bankshares (NASDAQ:EBC) last posted its earnings results on Thursday, October 24th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.08). Eastern Bankshares had a return on equity of 4.49% and a net margin of 38.00%. The company had revenue of $299.55 million for the quarter, compared to the consensus estimate of $215.92 million. During the same quarter last year, the business earned $0.32 EPS. On average, analysts expect Eastern Bankshares to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Eastern Bankshares Price Performance

Shares of NASDAQ:EBC opened at $17.70 on Wednesday. The business’s fifty day moving average price is $17.82 and its two-hundred day moving average price is $16.77. Eastern Bankshares has a fifty-two week low of $12.22 and a fifty-two week high of $19.40. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 7.63 and a beta of 0.94.

Eastern Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Tuesday, December 3rd were issued a $0.12 dividend. This is a positive change from Eastern Bankshares’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, December 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.71%. Eastern Bankshares’s dividend payout ratio is presently 20.69%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Eastern Bankshares from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

Insider Activity at Eastern Bankshares

In other Eastern Bankshares news, Director Deborah C. Jackson sold 5,713 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.56, for a total transaction of $106,033.28. Following the sale, the director now owns 67,284 shares of the company’s stock, valued at $1,248,791.04. This represents a 7.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.15% 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.