$0.28 EPS expected for Eastern Bankshares, Inc. (NASDAQ:EBC) this quarter

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Equity research analysts expect Eastern Bankshares, Inc. (NASDAQ:EBC – Get a rating) will report earnings per share (EPS) of $0.28 for the current fiscal quarter, according to Zacks Investment Research. Four analysts provided earnings estimates for Eastern Bankshares. The highest EPS estimate is $0.32 and the lowest is $0.25. Eastern Bankshares posted earnings per share of $0.27 in the same quarter last year, suggesting a positive year-over-year growth rate of 3.7%. The company is expected to announce its next earnings report on Thursday, May 5.

According to Zacks, analysts expect Eastern Bankshares to report annual earnings of $1.17 per share for the current year, with EPS estimates ranging from $1.12 to $1.23. For next year, analysts expect the company to post earnings of $1.44 per share, with EPS estimates ranging from $1.37 to $1.48. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that provide coverage for Eastern Bankshares.

Eastern Bankshares (NASDAQ:EBC – Get a rating) last released its quarterly earnings data on Thursday, January 27. The company reported earnings per share of $0.26 for the quarter. The company posted revenue of $171.44 million for the quarter. Eastern Bankshares had a net margin of 24.62% and a return on equity of 4.86%.

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A number of stock analysts have recently commented on EBC’s stock. Piper Sandler began covering Eastern Bankshares shares in a research report on Tuesday, November 16. They set an “overweight” rating and a price target of $25.00 on the stock. Zacks Investment Research downgraded shares of Eastern Bankshares from a “buy” rating to a “hold” rating in a Tuesday, February 15 research note.

NASDAQ: EBC traded down $0.46 during Friday’s midday session, hitting $21.00. 21,812 shares of the company were traded, against an average volume of 786,165. Eastern Bankshares has a one-year low of $17.63 and a one-year high of $23.03. The company has a market capitalization of $3.87 billion, a PE ratio of 23.47 and a beta of 0.90. The company’s fifty-day simple moving average is $21.11 and its two-hundred-day simple moving average is $20.54.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 15. Investors of record on Thursday, March 3 will receive a dividend of $0.10. The ex-dividend date is Wednesday, March 2. This represents an annualized dividend of $0.40 and a yield of 1.90%. This is an increase from Eastern Bankshares’ previous quarterly dividend of $0.08. Eastern Bankshares’ dividend payout ratio (DPR) is currently 35.56%.

In other Eastern Bankshares news, Director Bari A. Harlam sold 17,500 shares of Eastern Bankshares in a trade on Thursday, December 16. The shares were sold at an average price of $20.83, for a total transaction of $364,525.00. The transaction was disclosed in an SEC filing, which is available via this link. Insiders of the company hold 1.01% of the shares of the company.

A number of institutional investors have recently changed their positions in EBC. Metropolitan Life Insurance Co NY increased its position in Eastern Bankshares shares by 106,617.4% during the second quarter. Metropolitan Life Insurance Co NY now owns 49,090 shares of the company valued at $1,010,000 after purchasing an additional 49,044 shares during the period. Morgan Stanley increased its position in Eastern Bankshares shares by 288.9% in the second quarter. Morgan Stanley now owns 363,864 shares of the company worth $7,484,000 after purchasing an additional 270,313 shares in the last quarter. Strs Ohio increased its position in shares of Eastern Bankshares by 94.1% in the third quarter. Strs Ohio now owns 75,900 shares of the company worth $1,540,000 after purchasing an additional 36,800 shares in the last quarter. Parametric Portfolio Associates LLC bought a new equity position in Eastern Bankshares in the second quarter worth approximately $320,000. Finally, Schonfeld Strategic Advisors LLC bought a new equity position in Eastern Bankshares in the second quarter worth approximately $594,000. Institutional investors and hedge funds hold 47.79% of the company’s shares.

Eastern Bankshares Company Profile (Get a rating)

Eastern Bankshares, Inc operates as a bank holding company for Eastern Bank which provides commercial banking products and services primarily to individuals, businesses and small businesses. It operates in two segments, banking business and insurance agency business. The Company provides interest-bearing and non-interest-bearing checking deposits, money market deposits, savings deposits and certificates of deposit, as well as debit and credit cards.

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Earnings history and estimates for Eastern Bankshares (NASDAQ:EBC)

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