Eastern Bankshares (NASDAQ:EBC) Sets New 12-Month High at $16.64

Shares of Eastern Bankshares, Inc. (NASDAQ:EBC) hit a new 52-week high during trading on Thursday . The company traded as high as $16.64 and last traded at $16.52, with a volume of 119571 shares. The stock had previously closed at $16.46.

Eastern Bankshares Price Performance

The firm’s 50-day moving average is $13.79 and its 200-day moving average is $13.55. 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 company has a market cap of $2.90 billion, a PE ratio of 5.80 and a beta of 0.89.

Eastern Bankshares (NASDAQ:EBC) last issued its earnings results on Friday, April 26th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Eastern Bankshares had a net margin of 49.59% and a return on equity of 5.59%. The firm had revenue of $230.30 million for the quarter, compared to the consensus estimate of $157.52 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, equities analysts anticipate that Eastern Bankshares, Inc. will post 1.16 EPS for the current year.

Eastern Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Monday, June 3rd. Eastern Bankshares’s dividend payout ratio (DPR) is presently 15.44%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EBC. SG Americas Securities LLC bought a new stake in shares of Eastern Bankshares during the first quarter valued at approximately $126,000. Tortoise Investment Management LLC purchased a new position in Eastern Bankshares during the fourth quarter valued at $134,000. Mackenzie Financial Corp bought a new stake in Eastern Bankshares in the 4th quarter valued at $164,000. Cetera Advisors LLC purchased a new position in shares of Eastern Bankshares during the first quarter valued at about $182,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Eastern Bankshares in the fourth quarter worth about $189,000. 71.68% of the stock is currently owned by institutional investors.

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.