Eastern Bankshares (EBC) Expected to Announce Quarterly Earnings on Thursday

Eastern Bankshares (NASDAQ:EBC) is anticipated to announce its earnings results after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.29 per share and revenue of $211,850.00 billion for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Eastern Bankshares (NASDAQ:EBC) last released its earnings results 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 return on equity of 4.49% and a net margin of 38.00%. The company had revenue of $299.55 million during the quarter, compared to analyst estimates of $215.92 million. During the same period in the prior year, the business posted $0.32 earnings per share. On average, analysts expect Eastern Bankshares to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Eastern Bankshares Stock Performance

Shares of EBC stock opened at $17.50 on Tuesday. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 7.54 and a beta of 0.94. Eastern Bankshares has a one year low of $12.22 and a one year high of $19.40. The company has a 50 day moving average price of $17.85 and a 200 day moving average price of $16.75.

Eastern Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Tuesday, December 3rd were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.74%. This is an increase from Eastern Bankshares’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, December 3rd. Eastern Bankshares’s dividend payout ratio is presently 20.69%.

Analyst Ratings Changes

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

Insider Activity 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 stock was sold at an average price of $18.56, for a total transaction of $106,033.28. Following the transaction, the director now owns 67,284 shares in the company, valued at $1,248,791.04. The trade was a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.15% of the stock is currently owned by 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.