Eastern Bankshares, Inc. $EBC Stock Holdings Lifted by Northstar Asset Management Inc.

Northstar Asset Management Inc. lifted its holdings in Eastern Bankshares, Inc. (NASDAQ:EBC) by 1.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 413,141 shares of the company’s stock after buying an additional 5,284 shares during the quarter. Eastern Bankshares makes up 1.7% of Northstar Asset Management Inc.’s portfolio, making the stock its 25th biggest position. Northstar Asset Management Inc. owned approximately 0.19% of Eastern Bankshares worth $6,309,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Jane Street Group LLC lifted its position in shares of Eastern Bankshares by 789.9% in the 1st quarter. Jane Street Group LLC now owns 545,589 shares of the company’s stock worth $8,948,000 after buying an additional 484,277 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Eastern Bankshares in the 1st quarter worth about $277,000. Jupiter Asset Management Ltd. bought a new position in shares of Eastern Bankshares in the 1st quarter worth about $3,717,000. GAMMA Investing LLC lifted its position in shares of Eastern Bankshares by 92.1% in the 1st quarter. GAMMA Investing LLC now owns 1,815 shares of the company’s stock worth $30,000 after buying an additional 870 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC lifted its position in shares of Eastern Bankshares by 67.1% in the 1st quarter. Moody Lynn & Lieberson LLC now owns 46,245 shares of the company’s stock worth $758,000 after buying an additional 18,572 shares during the last quarter. 71.68% of the stock is currently owned by institutional investors.

Eastern Bankshares Stock Down 3.8%

Eastern Bankshares stock opened at $17.66 on Friday. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 70.64 and a beta of 0.95. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $17.65 and its two-hundred day moving average price is $16.08. Eastern Bankshares, Inc. has a 52 week low of $13.51 and a 52 week high of $19.40.

Eastern Bankshares (NASDAQ:EBC) last released its earnings results on Tuesday, November 12th. The company reported $0.32 EPS for the quarter. The firm had revenue of $162.26 million for the quarter. Eastern Bankshares had a net margin of 4.97% and a return on equity of 8.04%. On average, analysts expect that Eastern Bankshares, Inc. will post 1.49 EPS for the current fiscal year.

Eastern Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, December 3rd will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, December 3rd. Eastern Bankshares’s dividend payout ratio (DPR) is -167.74%.

Analyst Ratings Changes

A number of analysts recently weighed in on EBC shares. TD Cowen started coverage on shares of Eastern Bankshares in a report on Thursday, September 25th. They issued a “buy” rating and a $23.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Eastern Bankshares in a report on Friday. Finally, Cowen started coverage on shares of Eastern Bankshares in a report on Wednesday, September 24th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Insider Buying and Selling at Eastern Bankshares

In other news, President Quincy Lee Miller bought 13,706 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average cost of $17.07 per share, with a total value of $233,961.42. Following the completion of the transaction, the president directly owned 13,706 shares in the company, valued at approximately $233,961.42. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Eastern Bankshares 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.