Eastern Bankshares, Inc. (EBC) To Go Ex-Dividend on March 3rd

Eastern Bankshares, Inc. (NASDAQ:EBC) declared a quarterly dividend on Thursday, January 23rd, Wall Street Journal reports. Shareholders of record on Monday, March 3rd will be paid a dividend of 0.12 per share on Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Monday, March 3rd.

Eastern Bankshares has raised its dividend payment by an average of 14.5% annually over the last three years. Eastern Bankshares has a dividend payout ratio of 27.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Eastern Bankshares to earn $1.72 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 27.9%.

Eastern Bankshares Stock Up 1.2 %

Shares of NASDAQ EBC opened at $17.89 on Friday. Eastern Bankshares has a twelve month low of $12.22 and a twelve month high of $19.40. The company has a market cap of $3.84 billion, a PE ratio of 26.70 and a beta of 0.94. The business’s 50 day moving average price is $17.83 and its two-hundred day moving average price is $17.31.

Eastern Bankshares (NASDAQ:EBC) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Eastern Bankshares had a return on equity of 6.02% and a net margin of 11.07%. As a group, research analysts anticipate that Eastern Bankshares will post 1.49 EPS for the current fiscal year.

Insider Activity at Eastern Bankshares

In related news, Director Deborah C. Jackson sold 5,713 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $18.56, for a total value of $106,033.28. Following the completion of the sale, the director now directly owns 67,284 shares in the company, valued at approximately $1,248,791.04. The trade was a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set a $22.00 price objective (up previously from $21.00) on shares of Eastern Bankshares in a report on Monday, January 27th.

Eastern Bankshares Company 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.