Eastern Bankshares, Inc. (NASDAQ:EBC) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC decreased its stake in Eastern Bankshares, Inc. (NASDAQ:EBC) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 68,774 shares of the company’s stock after selling 1,500 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Eastern Bankshares were worth $1,186,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EBC. Rhumbline Advisers grew its position in shares of Eastern Bankshares by 0.9% in the second quarter. Rhumbline Advisers now owns 257,492 shares of the company’s stock valued at $3,600,000 after purchasing an additional 2,320 shares during the period. American Century Companies Inc. grew its position in shares of Eastern Bankshares by 9.1% in the second quarter. American Century Companies Inc. now owns 291,020 shares of the company’s stock valued at $4,068,000 after purchasing an additional 24,188 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Eastern Bankshares by 58.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,079,028 shares of the company’s stock valued at $29,065,000 after purchasing an additional 764,881 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Eastern Bankshares by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,835,761 shares of the company’s stock valued at $67,599,000 after purchasing an additional 950,150 shares during the period. Finally, Moors & Cabot Inc. grew its position in shares of Eastern Bankshares by 24.5% in the second quarter. Moors & Cabot Inc. now owns 51,084 shares of the company’s stock valued at $714,000 after purchasing an additional 10,042 shares during the period. Institutional investors and hedge funds own 71.68% of the company’s stock.

Eastern Bankshares Trading Up 2.0 %

Shares of NASDAQ EBC opened at $17.69 on Thursday. Eastern Bankshares, Inc. has a 12-month low of $12.22 and a 12-month high of $19.40. The stock has a market cap of $3.80 billion, a PE ratio of 7.63 and a beta of 0.94. The company has a 50-day moving average of $17.90 and a 200 day moving average of $16.67.

Eastern Bankshares (NASDAQ:EBC) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.08). Eastern Bankshares had a net margin of 38.00% and a return on equity of 4.49%. The business had revenue of $299.55 million for the quarter, compared to analysts’ expectations of $215.92 million. During the same period in the prior year, the company posted $0.32 EPS. On average, sell-side analysts forecast that Eastern Bankshares, Inc. will post 0.98 EPS for the current fiscal year.

Eastern Bankshares Increases Dividend

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Eastern Bankshares

In other Eastern Bankshares news, Director Deborah C. Jackson sold 5,713 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.56, for a total value of $106,033.28. Following the transaction, the director now directly owns 67,284 shares in the company, valued at $1,248,791.04. The trade was a 7.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.15% of the stock is currently owned by company insiders.

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.