Eastern Bankshares (NASDAQ:EBC) Announces Quarterly Earnings Results, Hits Estimates

Eastern Bankshares (NASDAQ:EBC) announced its quarterly earnings results on Thursday. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22, Zacks reports. The company had revenue of $232.72 million for the quarter, compared to the consensus estimate of $157.45 million. Eastern Bankshares had a net margin of 48.38% and a return on equity of 5.14%. During the same period in the previous year, the firm posted $0.28 EPS.

Eastern Bankshares Trading Up 3.4 %

NASDAQ EBC traded up $0.56 during trading hours on Friday, hitting $16.88. 3,476,123 shares of the company were exchanged, compared to its average volume of 1,545,299. Eastern Bankshares has a 52 week low of $10.65 and a 52 week high of $17.26. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $14.11 and a 200 day moving average price of $13.66. The stock has a market cap of $2.98 billion, a PE ratio of 5.92 and a beta of 0.89.

Eastern Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Tuesday, September 3rd. Eastern Bankshares’s dividend payout ratio is 15.44%.

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.