Eastern Bankshares (EBC) Projected to Announce Earnings on Thursday

Eastern Bankshares (NASDAQ:EBC) is expected to be posting its quarterly earnings results after the market closes on Thursday, January 23rd. Analysts expect Eastern Bankshares to post earnings of $0.29 per share and revenue of $211,850.00 billion for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Eastern Bankshares (NASDAQ:EBC) last issued its earnings results on Thursday, October 24th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.08). Eastern Bankshares had a net margin of 38.00% and a return on equity of 4.49%. The business had revenue of $299.55 million for the quarter, compared to the consensus estimate of $215.92 million. During the same quarter in the previous year, the firm posted $0.32 EPS. On average, analysts expect Eastern Bankshares to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Eastern Bankshares Stock Up 1.1 %

NASDAQ:EBC opened at $17.70 on Wednesday. Eastern Bankshares has a 12-month low of $12.22 and a 12-month high of $19.40. The stock’s fifty day simple moving average is $17.82 and its 200-day simple moving average is $16.77. The firm has a market capitalization of $3.80 billion, a P/E ratio of 7.63 and a beta of 0.94.

Eastern Bankshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Tuesday, December 3rd were paid a $0.12 dividend. This is a positive change from Eastern Bankshares’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $0.48 annualized dividend and a yield of 2.71%. Eastern Bankshares’s dividend payout ratio is presently 20.69%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their price target on Eastern Bankshares from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Insider Transactions at Eastern Bankshares

In other news, Director Deborah C. Jackson sold 5,713 shares of Eastern Bankshares stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $18.56, for a total transaction of $106,033.28. Following the transaction, the director now owns 67,284 shares in the company, valued at $1,248,791.04. The trade was a 7.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.15% of the company’s stock.

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.