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

Eastern Bankshares (NASDAQ:EBCGet Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, January 26th. Analysts expect the company to announce earnings of $0.36 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Eastern Bankshares (NASDAQ:EBCGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Eastern Bankshares had a net margin of 26.17% and a return on equity of 7.21%. The firm had revenue of $195.53 million for the quarter, compared to the consensus estimate of $195.48 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 Price Performance

Shares of EBC traded down $0.03 during midday trading on Tuesday, reaching $17.71. The stock had a trading volume of 388,004 shares, compared to its average volume of 582,500. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $3.13 billion, a P/E ratio of 15.54 and a beta of 0.80. The firm’s 50 day moving average price is $18.06 and its 200-day moving average price is $19.33. Eastern Bankshares has a 52 week low of $16.64 and a 52 week high of $22.35.

Eastern Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Friday, December 2nd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.26%. The ex-dividend date was Thursday, December 1st. Eastern Bankshares’s dividend payout ratio (DPR) is presently 35.09%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Eastern Bankshares by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 15,773,984 shares of the company’s stock worth $339,771,000 after purchasing an additional 157,920 shares during the period. State Street Corp boosted its position in shares of Eastern Bankshares by 12.5% in the first quarter. State Street Corp now owns 6,001,306 shares of the company’s stock worth $129,268,000 after buying an additional 667,610 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Eastern Bankshares by 4.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,951,326 shares of the company’s stock valued at $63,571,000 after buying an additional 120,823 shares in the last quarter. Capital Research Global Investors acquired a new position in Eastern Bankshares during the first quarter valued at $62,383,000. Finally, Northern Trust Corp lifted its stake in Eastern Bankshares by 1.7% in the 2nd quarter. Northern Trust Corp now owns 1,910,312 shares of the company’s stock worth $35,264,000 after acquiring an additional 32,046 shares in the last quarter. 54.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on EBC shares. TheStreet downgraded shares of Eastern Bankshares from a “b-” rating to a “c” rating in a report on Monday, November 14th. Compass Point cut their price objective on Eastern Bankshares to $22.00 in a research report on Tuesday, November 1st.

About Eastern Bankshares

(Get Rating)

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. It operates in two segments, Banking Business and Insurance Agency Business. The company provides interest-bearing and non interest-bearing checking deposits, money market deposits, savings deposits, and time certificates of deposits, as well as debit and credit cards.

Further Reading

Earnings History for Eastern Bankshares (NASDAQ:EBC)

Receive News & Ratings for Eastern Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastern Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.