Eastern Bankshares, Inc. (NASDAQ:EBC) Stock Holdings Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Eastern Bankshares, Inc. (NASDAQ:EBC) by 37.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,432 shares of the company’s stock after selling 12,817 shares during the period. Victory Capital Management Inc.’s holdings in Eastern Bankshares were worth $304,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new position in Eastern Bankshares in the fourth quarter worth approximately $164,000. Jump Financial LLC acquired a new position in Eastern Bankshares during the third quarter valued at approximately $220,000. AlphaMark Advisors LLC acquired a new position in Eastern Bankshares during the fourth quarter valued at approximately $282,000. Principal Financial Group Inc. grew its holdings in 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, Cornercap Investment Counsel Inc. acquired a new position in Eastern Bankshares during the fourth quarter valued at approximately $548,000. Institutional investors and hedge funds own 71.68% of the company’s stock.

Eastern Bankshares Trading Down 0.1 %

Shares of EBC stock opened at $13.57 on Friday. Eastern Bankshares, Inc. has a 12 month low of $10.65 and a 12 month high of $15.07. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $13.31 and its two-hundred day moving average is $13.37. The company has a market cap of $2.40 billion, a PE ratio of 4.76 and a beta of 0.88.

Eastern Bankshares (NASDAQ:EBC) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Eastern Bankshares had a return on equity of 5.59% and a net margin of 49.59%. The company had revenue of $230.30 million for the quarter, compared to the consensus estimate of $157.52 million. During the same quarter last year, the company posted $0.38 earnings per share. Equities analysts predict that Eastern Bankshares, Inc. will post 1.13 EPS for the current year.

Eastern Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.44 annualized dividend and a dividend yield of 3.24%. Eastern Bankshares’s payout ratio is 15.44%.

Insider Transactions at Eastern Bankshares

In other news, Director Luis Borgen sold 40,288 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $13.08, for a total value of $526,967.04. Following the sale, the director now owns 42,040 shares in the company, valued at $549,883.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.15% of the stock is currently owned by corporate 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.