Swiss National Bank Sells 6,500 Shares of Eastern Bankshares, Inc. (NASDAQ:EBC)

Swiss National Bank trimmed its stake in Eastern Bankshares, Inc. (NASDAQ:EBCGet Rating) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 391,000 shares of the company’s stock after selling 6,500 shares during the period. Swiss National Bank’s holdings in Eastern Bankshares were worth $7,218,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Beaumont Financial Partners LLC increased its position in Eastern Bankshares by 0.4% in the 2nd quarter. Beaumont Financial Partners LLC now owns 142,540 shares of the company’s stock worth $2,631,000 after buying an additional 545 shares during the period. Valmark Advisers Inc. increased its position in Eastern Bankshares by 1.1% in the 1st quarter. Valmark Advisers Inc. now owns 51,658 shares of the company’s stock worth $1,113,000 after buying an additional 547 shares during the period. Brinker Capital Investments LLC increased its position in Eastern Bankshares by 3.4% in the 2nd quarter. Brinker Capital Investments LLC now owns 18,129 shares of the company’s stock worth $335,000 after buying an additional 588 shares during the period. HighTower Advisors LLC increased its position in Eastern Bankshares by 5.0% in the 1st quarter. HighTower Advisors LLC now owns 19,528 shares of the company’s stock worth $421,000 after buying an additional 927 shares during the period. Finally, Csenge Advisory Group increased its position in Eastern Bankshares by 4.1% in the 2nd quarter. Csenge Advisory Group now owns 31,884 shares of the company’s stock worth $589,000 after buying an additional 1,247 shares during the period. 53.67% of the stock is owned by institutional investors.

Eastern Bankshares Stock Performance

EBC opened at $19.08 on Wednesday. The stock has a market cap of $3.37 billion, a PE ratio of 16.68 and a beta of 0.75. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.16. Eastern Bankshares, Inc. has a 1 year low of $17.98 and a 1 year high of $22.35. The stock’s 50 day simple moving average is $19.99 and its 200-day simple moving average is $19.64.

Eastern Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, December 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, December 1st. Eastern Bankshares’s dividend payout ratio is presently 35.09%.

Analysts Set New Price Targets

Several brokerages have commented on EBC. Compass Point dropped their price target on Eastern Bankshares to $22.00 in a research report on Tuesday, November 1st. TheStreet cut Eastern Bankshares from a “b-” rating to a “c” rating in a research report on Monday, November 14th.

Insider Activity

In other news, Director Greg Allen Sr. Shell sold 24,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $20.10, for a total transaction of $482,400.00. Following the sale, the director now directly owns 173,465 shares in the company, valued at $3,486,646.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.36% of the stock is currently owned by company insiders.

Eastern Bankshares Company Profile

(Get Rating)

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. 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 time certificates of deposits, as well as debit and credit cards.

See Also

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

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