Eastern Bankshares (EBC) Set to Announce Earnings on Thursday

Eastern Bankshares (NASDAQ:EBC) is scheduled to issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.20 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Eastern Bankshares (NASDAQ:EBC) last released its quarterly earnings results on Thursday, January 25th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.11). The company had revenue of $160.05 million for the quarter, compared to analyst estimates of $153.53 million. On average, analysts expect Eastern Bankshares to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Eastern Bankshares Stock Performance

Shares of EBC stock opened at $13.08 on Wednesday. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 9.28 and a beta of 0.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. Eastern Bankshares has a 52 week low of $9.93 and a 52 week high of $15.07. The firm’s 50-day simple moving average is $13.15 and its two-hundred day simple moving average is $13.07.

Eastern Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Thursday, February 29th. Eastern Bankshares’s dividend payout ratio is 31.21%.

Insiders Place Their Bets

In other news, Director Luis Borgen sold 40,288 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $13.08, for a total value of $526,967.04. Following the sale, the director now owns 42,040 shares of the company’s stock, valued at $549,883.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.15% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Eastern Bankshares in a research report on Friday, January 26th.

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.