Eastern Bankshares, Inc. (NASDAQ:EBC) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 593,553 shares of the company’s stock after buying an additional 36,065 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Eastern Bankshares were worth $12,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its holdings in Eastern Bankshares by 13.1% in the second quarter. FMR LLC now owns 3,470,469 shares of the company’s stock valued at $71,387,000 after purchasing an additional 402,405 shares during the period. Geode Capital Management LLC raised its holdings in Eastern Bankshares by 13.0% in the second quarter. Geode Capital Management LLC now owns 3,249,608 shares of the company’s stock valued at $66,844,000 after acquiring an additional 373,847 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Eastern Bankshares by 0.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,782,095 shares of the company’s stock valued at $57,228,000 after purchasing an additional 21,351 shares during the last quarter. Emerald Advisers LLC increased its stake in Eastern Bankshares by 3.5% during the third quarter. Emerald Advisers LLC now owns 2,025,152 shares of the company’s stock valued at $41,111,000 after purchasing an additional 68,781 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC grew its position in shares of Eastern Bankshares by 1.2% during the third quarter. Birch Hill Investment Advisors LLC now owns 1,817,850 shares of the company’s stock worth $36,902,000 after acquiring an additional 20,950 shares during the last quarter. Institutional investors and hedge funds own 47.29% of the company’s stock.

A number of brokerages recently issued reports on EBC. Zacks Investment Research upgraded shares of Eastern Bankshares from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Tuesday, November 2nd. Piper Sandler assumed coverage on shares of Eastern Bankshares in a research report on Tuesday, November 16th. They issued an “overweight” rating and a $25.00 price target for the company.

EBC opened at $22.04 on Friday. Eastern Bankshares, Inc. has a 1-year low of $15.87 and a 1-year high of $23.03. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 50.09 and a beta of 1.35. The business has a 50 day moving average of $20.76 and a 200-day moving average of $20.06.

Eastern Bankshares (NASDAQ:EBC) last issued its earnings results on Wednesday, October 27th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $145.90 million during the quarter, compared to analysts’ expectations of $150.95 million. Eastern Bankshares had a return on equity of 4.46% and a net margin of 12.40%. Equities research analysts anticipate that Eastern Bankshares, Inc. will post 0.94 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Friday, December 3rd were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.45%. Eastern Bankshares’s payout ratio is 72.73%.

In other news, Director Bari A. Harlam sold 17,500 shares of the business’s stock in a transaction dated Thursday, December 16th. The stock was sold at an average price of $20.83, for a total transaction of $364,525.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.01% of the stock is owned by company insiders.

Eastern Bankshares Company Profile

Eastern Bankshares, Inc operates as the bank holding company for Eastern Bank that provides commercial banking products and services primarily to retail, commercial, and small business customers. 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 deposits, as well as debit and credit cards.

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Institutional Ownership by Quarter for Eastern Bankshares (NASDAQ:EBC)

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