Eastern Bankshares (EBC) to Release Earnings on Thursday

Eastern Bankshares (NASDAQ:EBC) will be posting its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Eastern Bankshares to post earnings of $0.20 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Eastern Bankshares (NASDAQ:EBC) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.11). The firm had revenue of $160.05 million during the quarter, compared to analyst estimates of $153.53 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 Stock Up 1.0 %

Shares of NASDAQ EBC opened at $12.95 on Tuesday. The stock has a market cap of $2.28 billion, a P/E ratio of 9.18 and a beta of 0.85. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Eastern Bankshares has a 12-month low of $9.93 and a 12-month high of $15.07. The business’s fifty day simple moving average is $13.15 and its 200-day simple moving average is $13.07.

Eastern Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Thursday, February 29th. Eastern Bankshares’s payout ratio is currently 31.21%.

Insider Activity

In other Eastern Bankshares news, Director Luis Borgen sold 40,288 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $13.08, for a total value of $526,967.04. Following the sale, the director now directly owns 42,040 shares in the company, valued at $549,883.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.