Stieven Capital Advisors L.P. Has $12.46 Million Stock Holdings in Eastern Bankshares, Inc. (NASDAQ:EBC)

Stieven Capital Advisors L.P. lowered its stake in shares of Eastern Bankshares, Inc. (NASDAQ:EBC) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 722,549 shares of the company’s stock after selling 96,092 shares during the period. Eastern Bankshares comprises about 2.2% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 17th biggest holding. Stieven Capital Advisors L.P. owned 0.34% of Eastern Bankshares worth $12,464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. FMR LLC raised its holdings in shares of Eastern Bankshares by 36.3% during the 3rd quarter. FMR LLC now owns 18,431,075 shares of the company’s stock valued at $302,085,000 after purchasing an additional 4,913,376 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of Eastern Bankshares by 595.7% in the third quarter. Systematic Financial Management LP now owns 1,730,639 shares of the company’s stock worth $28,365,000 after buying an additional 1,481,889 shares during the last quarter. Eastern Bank bought a new stake in shares of Eastern Bankshares during the 3rd quarter worth about $23,849,000. State Street Corp increased its holdings in shares of Eastern Bankshares by 20.3% during the 3rd quarter. State Street Corp now owns 6,940,433 shares of the company’s stock valued at $113,754,000 after acquiring an additional 1,170,276 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Eastern Bankshares by 23.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,587,497 shares of the company’s stock valued at $75,203,000 after acquiring an additional 859,136 shares in the last quarter. 71.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Deborah C. Jackson sold 5,713 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were 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 approximately $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 can be accessed through the SEC website. 1.15% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Eastern Bankshares Trading Up 0.9 %

NASDAQ:EBC opened at $18.64 on Friday. The firm has a market capitalization of $4.00 billion, a PE ratio of 27.82 and a beta of 0.94. Eastern Bankshares, Inc. has a 1 year low of $12.22 and a 1 year high of $19.40. The firm’s fifty day simple moving average is $17.76 and its 200 day simple moving average is $17.13.

Eastern Bankshares (NASDAQ:EBC) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts anticipate that Eastern Bankshares, Inc. will post 1.49 EPS for the current fiscal year.

Eastern Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.58%. Eastern Bankshares’s dividend payout ratio (DPR) is presently 71.64%.

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.