Brokerages Set Eastern Bankshares, Inc. (NASDAQ:EBC) Price Target at $15.25

Eastern Bankshares, Inc. (NASDAQ:EBC) has earned a consensus rating of “Hold” from the three research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $15.25.

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Eastern Bankshares in a report on Friday, January 26th.

Insider Buying and Selling at Eastern Bankshares

In other Eastern Bankshares news, Director Luis Borgen sold 40,288 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $13.08, for a total transaction of $526,967.04. Following the sale, the director now owns 42,040 shares in the company, valued at $549,883.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.15% of the company’s stock.

Institutional Trading of Eastern Bankshares

Large investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Eastern Bankshares by 0.5% during the third quarter. Rhumbline Advisers now owns 249,603 shares of the company’s stock valued at $3,130,000 after purchasing an additional 1,184 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Eastern Bankshares by 1.0% during the third quarter. Swiss National Bank now owns 348,900 shares of the company’s stock valued at $4,375,000 after purchasing an additional 3,400 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Eastern Bankshares by 32.8% during the third quarter. Verdence Capital Advisors LLC now owns 19,408 shares of the company’s stock valued at $243,000 after purchasing an additional 4,792 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Eastern Bankshares by 39.2% during the third quarter. Principal Financial Group Inc. now owns 22,928 shares of the company’s stock valued at $288,000 after purchasing an additional 6,460 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Eastern Bankshares by 26.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,218 shares of the company’s stock valued at $417,000 after purchasing an additional 6,856 shares during the last quarter. 71.68% of the stock is owned by institutional investors.

Eastern Bankshares Stock Up 0.8 %

Eastern Bankshares stock opened at $13.04 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.30 billion, a PE ratio of 4.58 and a beta of 0.85. The firm’s fifty day moving average is $13.11 and its 200 day moving average is $13.08. Eastern Bankshares has a 12-month low of $9.93 and a 12-month high of $15.07.

Eastern Bankshares (NASDAQ:EBC) last posted its quarterly earnings results on Thursday, January 25th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.11). The company had revenue of $160.05 million during the quarter, compared to analyst estimates of $153.53 million. Eastern Bankshares had a return on equity of 5.75% and a net margin of 49.59%. As a group, sell-side analysts predict that Eastern Bankshares will post 1.18 EPS for the current fiscal year.

Eastern Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a $0.11 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.37%. Eastern Bankshares’s dividend payout ratio (DPR) is presently 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.