O ROURKE & COMPANY Inc Has $321,000 Stock Holdings in Eastern Bankshares, Inc. (NASDAQ:EBC)

O ROURKE & COMPANY Inc lowered its position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC) by 23.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,558 shares of the company’s stock after selling 5,945 shares during the quarter. O ROURKE & COMPANY Inc’s holdings in Eastern Bankshares were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EBC. Jennison Associates LLC raised its position in shares of Eastern Bankshares by 23.8% in the first quarter. Jennison Associates LLC now owns 2,993,308 shares of the company’s stock valued at $41,248,000 after buying an additional 576,381 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Eastern Bankshares during the 1st quarter valued at $126,000. Sei Investments Co. grew its holdings in shares of Eastern Bankshares by 18.7% during the 1st quarter. Sei Investments Co. now owns 41,330 shares of the company’s stock worth $570,000 after purchasing an additional 6,514 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Eastern Bankshares by 8.5% in the first quarter. ProShare Advisors LLC now owns 27,866 shares of the company’s stock worth $384,000 after purchasing an additional 2,193 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in Eastern Bankshares in the first quarter valued at about $3,804,000. Institutional investors own 71.68% of the company’s stock.

Eastern Bankshares Price Performance

EBC traded down $0.11 on Thursday, reaching $16.52. The stock had a trading volume of 133,084 shares, compared to its average volume of 1,003,250. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 7.17 and a beta of 0.89. Eastern Bankshares, Inc. has a fifty-two week low of $10.65 and a fifty-two week high of $17.49. The firm has a 50-day moving average of $16.49 and a 200-day moving average of $14.97.

Eastern Bankshares (NASDAQ:EBC) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.08). The business had revenue of $299.55 million for the quarter, compared to analyst estimates of $215.92 million. Eastern Bankshares had a return on equity of 5.06% and a net margin of 48.38%. During the same quarter last year, the firm posted $0.32 EPS. As a group, sell-side analysts anticipate that Eastern Bankshares, Inc. will post 1.11 EPS for the current year.

Eastern Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, December 3rd will be paid a $0.12 dividend. This is a boost from Eastern Bankshares’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.48 annualized dividend and a dividend yield of 2.91%. Eastern Bankshares’s dividend payout ratio is presently 20.69%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $19.00 target price (up from $17.00) on shares of Eastern Bankshares in a report on Monday, July 29th. JPMorgan Chase & Co. upgraded shares of Eastern Bankshares from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $18.50 in a research report on Tuesday, August 6th.

Insider Transactions at Eastern Bankshares

In related news, President Quincy Lee Miller sold 12,676 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $16.66, for a total value of $211,182.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.15% of the stock is owned by corporate insiders.

About Eastern Bankshares

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.