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

Eastern Bankshares, Inc. (NASDAQ:EBC) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Monday, June 3rd will be given a dividend of 0.11 per share on Friday, June 14th. This represents a $0.44 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Monday, June 3rd.

Eastern Bankshares has a dividend payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Eastern Bankshares to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 29.3%.

Eastern Bankshares Stock Performance

Shares of Eastern Bankshares stock traded up $0.10 during mid-day trading on Friday, hitting $13.04. 946,254 shares of the stock were exchanged, compared to its average volume of 819,752. Eastern Bankshares has a 12 month low of $9.93 and a 12 month high of $15.07. The company has a 50-day simple moving average of $13.11 and a 200 day simple moving average of $13.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $2.30 billion, a P/E ratio of 4.58 and a beta of 0.85.

Eastern Bankshares (NASDAQ:EBC) last posted its earnings results on Thursday, January 25th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.11). Eastern Bankshares had a return on equity of 5.75% and a net margin of 49.59%. The firm had revenue of $160.05 million for the quarter, compared to the consensus estimate of $153.53 million. Sell-side analysts anticipate that Eastern Bankshares will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eastern Bankshares news, Director Luis Borgen sold 40,288 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $13.08, for a total transaction of $526,967.04. Following the sale, the director now owns 42,040 shares of the company’s stock, valued at approximately $549,883.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Eastern Bankshares in a research report on Friday, January 26th.

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.