Eastern Bankshares, Inc. (NASDAQ:EBC) Announces Quarterly Dividend of $0.11

Eastern Bankshares, Inc. (NASDAQ:EBC) announced a quarterly dividend on Thursday, July 25th, Zacks reports. Investors of record on Tuesday, September 3rd will be given a dividend of 0.11 per share on Monday, September 16th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Tuesday, September 3rd.

Eastern Bankshares has a dividend payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eastern Bankshares to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 29.5%.

Eastern Bankshares Trading Up 3.4 %

Shares of EBC stock opened at $16.88 on Friday. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 5.92 and a beta of 0.89. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $14.11 and a 200 day moving average price of $13.66. Eastern Bankshares has a twelve month low of $10.65 and a twelve month high of $17.26.

Eastern Bankshares (NASDAQ:EBC) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $232.72 million during the quarter, compared to analyst estimates of $157.45 million. Eastern Bankshares had a net margin of 48.38% and a return on equity of 5.14%. During the same quarter in the previous year, the business posted $0.28 earnings per share. Research analysts forecast that Eastern Bankshares will post 1.16 earnings per share for the current fiscal year.

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.