Lynch & Associates IN Has $482,000 Holdings in Eastern Bankshares, Inc. (NASDAQ:EBC)

Lynch & Associates IN lessened its stake in Eastern Bankshares, Inc. (NASDAQ:EBC) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,000 shares of the company’s stock after selling 1,000 shares during the quarter. Lynch & Associates IN’s holdings in Eastern Bankshares were worth $482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tortoise Investment Management LLC bought a new stake in Eastern Bankshares in the fourth quarter valued at approximately $134,000. Mackenzie Financial Corp acquired a new position in Eastern Bankshares in the fourth quarter valued at approximately $164,000. Quadrature Capital Ltd acquired a new position in Eastern Bankshares in the fourth quarter valued at approximately $189,000. AlphaMark Advisors LLC acquired a new position in Eastern Bankshares in the fourth quarter valued at approximately $282,000. Finally, Picton Mahoney Asset Management acquired a new position in Eastern Bankshares in the fourth quarter valued at approximately $400,000. Institutional investors and hedge funds own 71.68% of the company’s stock.

Eastern Bankshares Stock Down 0.2 %

Shares of NASDAQ:EBC traded down $0.03 during trading on Thursday, reaching $13.19. 102,313 shares of the stock were exchanged, compared to its average volume of 861,863. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.83 and a quick ratio of 0.83. Eastern Bankshares, Inc. has a 1-year low of $10.65 and a 1-year high of $15.07. The stock has a fifty day moving average of $13.31 and a two-hundred day moving average of $13.52. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 4.63 and a beta of 0.90.

Eastern Bankshares (NASDAQ:EBC) last released its quarterly earnings results on Friday, April 26th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $230.30 million during the quarter, compared to analyst estimates of $157.52 million. Eastern Bankshares had a return on equity of 5.59% and a net margin of 49.59%. During the same period in the prior year, the firm posted $0.38 EPS. Research analysts anticipate that Eastern Bankshares, Inc. will post 1.16 earnings per share for the current fiscal year.

Eastern Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 3.34%. Eastern Bankshares’s dividend payout ratio (DPR) is presently 15.44%.

About Eastern Bankshares

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.