Eastern Bankshares, Inc. $EBC Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its position in Eastern Bankshares, Inc. (NASDAQ:EBC) by 9.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 8,618,230 shares of the company’s stock after selling 933,930 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Eastern Bankshares were worth $168,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. increased its holdings in shares of Eastern Bankshares by 8.3% in the 4th quarter. 1620 Investment Advisors Inc. now owns 7,092 shares of the company’s stock valued at $131,000 after purchasing an additional 543 shares during the period. Allworth Financial LP increased its stake in Eastern Bankshares by 36.4% in the 3rd quarter. Allworth Financial LP now owns 2,189 shares of the company’s stock valued at $40,000 after buying an additional 584 shares during the period. PNC Financial Services Group Inc. increased its stake in Eastern Bankshares by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 27,812 shares of the company’s stock valued at $513,000 after buying an additional 584 shares during the period. California State Teachers Retirement System lifted its position in Eastern Bankshares by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 179,379 shares of the company’s stock worth $2,739,000 after buying an additional 660 shares in the last quarter. Finally, Orion Porfolio Solutions LLC lifted its position in Eastern Bankshares by 6.0% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,102 shares of the company’s stock worth $200,000 after buying an additional 740 shares in the last quarter. Institutional investors own 71.68% of the company’s stock.

Insider Buying and Selling at Eastern Bankshares

In related news, Director Luis Borgen sold 1,710 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.71, for a total value of $38,834.10. Following the transaction, the director directly owned 20,475 shares of the company’s stock, valued at approximately $464,987.25. This trade represents a 7.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EBC shares. DA Davidson assumed coverage on shares of Eastern Bankshares in a report on Friday, May 15th. They set a “buy” rating and a $24.00 price target on the stock. Barclays cut their price objective on Eastern Bankshares from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 27th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Eastern Bankshares in a research report on Monday, June 8th. Weiss Ratings upgraded Eastern Bankshares from a “hold (c)” rating to a “buy (b)” rating in a research note on Tuesday, May 12th. Finally, Stephens began coverage on Eastern Bankshares in a research report on Wednesday, April 15th. They issued an “overweight” rating and a $24.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.08.

Eastern Bankshares Trading Up 1.3%

Eastern Bankshares stock opened at $22.92 on Friday. Eastern Bankshares, Inc. has a one year low of $14.88 and a one year high of $23.53. The company’s fifty day moving average price is $21.18 and its two-hundred day moving average price is $20.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 13.02 and a beta of 0.67.

Eastern Bankshares (NASDAQ:EBC) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. Eastern Bankshares had a return on equity of 8.78% and a net margin of 25.12%.The company had revenue of $316.00 million during the quarter, compared to analysts’ expectations of $308.20 million. On average, analysts forecast that Eastern Bankshares, Inc. will post 1.87 earnings per share for the current fiscal year.

Eastern Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 8th. Eastern Bankshares’s dividend payout ratio (DPR) is presently 34.09%.

More Eastern Bankshares News

Here are the key news stories impacting Eastern Bankshares this week:

• Positive Sentiment: Eastern Bankshares delivered a Q2 earnings beat, with EPS of $0.49 versus $0.46 expected and revenue of $316.0 million versus $308.2 million estimated. Article Title
• Positive Sentiment: The company declared a quarterly dividend of $0.15 per share, reinforcing its shareholder-return profile and yield appeal. Article Title
• Neutral Sentiment: Management’s Q2 earnings call transcript may provide additional color on loan growth, margins, and credit trends, but no major new catalyst was highlighted in the provided summary. Article Title
• Neutral Sentiment: Short-interest data showed no meaningful change in positioning, with reported short interest at 0 shares, offering little signal for near-term trading pressure.

Eastern Bankshares Profile

Eastern Bankshares, Inc is the bank holding company for Eastern Bank, one of the oldest and largest mutual banks in the United States. Founded in 1818 as Salem Savings Bank and later rebranded as Eastern Bank in 1989, the company preserved its mutual ownership structure for more than two centuries. In March 2020, it completed an initial public offering and began trading on the Nasdaq under the ticker EBC, while continuing to emphasize its community-focused heritage.

Through its primary subsidiary, Eastern Bank, the company delivers a broad range of commercial and consumer banking products.