Eastern Bankshares (EBC) to Release Quarterly Earnings on Thursday

Eastern Bankshares (NASDAQ:EBC) is scheduled to post its quarterly earnings results after the market closes on Thursday, October 24th. Analysts expect Eastern Bankshares to post earnings of $0.33 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Eastern Bankshares (NASDAQ:EBC) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. Eastern Bankshares had a net margin of 48.38% and a return on equity of 5.06%. The business had revenue of $232.72 million during the quarter, compared to analysts’ expectations of $157.45 million. During the same quarter in the previous year, the company earned $0.28 EPS. 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 Price Performance

Shares of Eastern Bankshares stock opened at $17.24 on Thursday. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 6.05 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day moving average of $16.20 and a 200-day moving average of $14.71. Eastern Bankshares has a 52-week low of $10.65 and a 52-week high of $17.31.

Eastern Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.44 annualized dividend and a yield of 2.55%. Eastern Bankshares’s dividend payout ratio (DPR) is presently 15.44%.

Insiders Place Their Bets

In related news, President Quincy Lee Miller sold 12,676 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $16.66, for a total value of $211,182.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Eastern Bankshares from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $18.50 in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $19.00 price target (up previously from $17.00) on shares of Eastern Bankshares in a report on Monday, July 29th.

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.