Eastern Bankshares, Inc. (NASDAQ:EBC) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its holdings in shares of Eastern Bankshares, Inc. (NASDAQ:EBC) by 81.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,805 shares of the company’s stock after selling 265,609 shares during the quarter. Edgestream Partners L.P.’s holdings in Eastern Bankshares were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Swiss National Bank lifted its stake in shares of Eastern Bankshares by 21.0% during the third quarter. Swiss National Bank now owns 378,564 shares of the company’s stock worth $6,205,000 after purchasing an additional 65,764 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Eastern Bankshares by 13.4% during the 3rd quarter. Jennison Associates LLC now owns 3,969,558 shares of the company’s stock valued at $65,061,000 after buying an additional 467,663 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in Eastern Bankshares during the 3rd quarter worth approximately $1,943,000. State Street Corp boosted its holdings in Eastern Bankshares by 20.3% in the 3rd quarter. State Street Corp now owns 6,940,433 shares of the company’s stock worth $113,754,000 after acquiring an additional 1,170,276 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Eastern Bankshares by 5.8% in the third quarter. JPMorgan Chase & Co. now owns 1,591,712 shares of the company’s stock valued at $26,088,000 after acquiring an additional 86,810 shares in the last quarter. 71.68% of the stock is owned by hedge funds and other institutional investors.

Eastern Bankshares Price Performance

Shares of Eastern Bankshares stock opened at $15.44 on Wednesday. Eastern Bankshares, Inc. has a 1-year low of $12.22 and a 1-year high of $19.40. The company has a market capitalization of $3.29 billion, a PE ratio of 23.04 and a beta of 0.95. The business has a 50-day moving average of $17.71 and a 200-day moving average of $17.38.

Eastern Bankshares (NASDAQ:EBC) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.34 earnings per share for the quarter, beating 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%. On average, equities analysts expect that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current fiscal year.

Eastern Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, March 3rd will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.11%. Eastern Bankshares’s dividend payout ratio (DPR) is presently 71.64%.

Wall Street Analysts Forecast Growth

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

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.