Swiss National Bank Has $5.61 Million Stock Holdings in Eastern Bankshares, Inc. $EBC

Swiss National Bank trimmed its position in Eastern Bankshares, Inc. (NASDAQ:EBC) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 367,164 shares of the company’s stock after selling 7,200 shares during the period. Swiss National Bank owned about 0.17% of Eastern Bankshares worth $5,607,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in EBC. Anderson Financial Strategies LLC acquired a new position in shares of Eastern Bankshares during the second quarter valued at $950,000. Cetera Investment Advisers raised its holdings in Eastern Bankshares by 19.9% during the 2nd quarter. Cetera Investment Advisers now owns 12,380 shares of the company’s stock worth $189,000 after purchasing an additional 2,058 shares during the last quarter. Creative Planning lifted its position in Eastern Bankshares by 6.8% during the 2nd quarter. Creative Planning now owns 219,494 shares of the company’s stock valued at $3,352,000 after purchasing an additional 13,978 shares during the period. SG Americas Securities LLC boosted its stake in shares of Eastern Bankshares by 62.7% in the 2nd quarter. SG Americas Securities LLC now owns 38,585 shares of the company’s stock valued at $589,000 after purchasing an additional 14,872 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Eastern Bankshares by 6.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 43,564 shares of the company’s stock valued at $665,000 after purchasing an additional 2,463 shares during the last quarter. Institutional investors own 71.68% of the company’s stock.

Insiders Place Their Bets

In other Eastern Bankshares news, insider Robert Francis Rivers purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, October 28th. The shares were bought at an average price of $17.21 per share, with a total value of $860,500.00. Following the completion of the transaction, the insider directly owned 403,274 shares in the company, valued at $6,940,345.54. This trade represents a 14.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO R David Rosato acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, October 28th. The shares were acquired at an average price of $17.08 per share, for a total transaction of $170,800.00. Following the acquisition, the chief financial officer directly owned 30,000 shares in the company, valued at $512,400. This represents a 50.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Eastern Bankshares Stock Up 0.8%

Eastern Bankshares stock opened at $18.99 on Tuesday. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 75.96 and a beta of 0.83. The company’s 50 day simple moving average is $18.00 and its 200 day simple moving average is $16.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.89 and a quick ratio of 0.89. Eastern Bankshares, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $19.31.

Eastern Bankshares (NASDAQ:EBC) last issued its earnings results on Tuesday, November 12th. The company reported $0.32 EPS for the quarter. The firm had revenue of $162.26 million during the quarter. Eastern Bankshares had a net margin of 4.97% and a return on equity of 7.94%. As a group, sell-side analysts anticipate that Eastern Bankshares, Inc. will post 1.49 EPS for the current year.

Eastern Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, December 3rd. Eastern Bankshares’s dividend payout ratio (DPR) is presently 208.00%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cowen initiated coverage on shares of Eastern Bankshares in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastern Bankshares in a report on Monday, November 24th. Finally, TD Cowen began coverage on Eastern Bankshares in a research note on Thursday, September 25th. They issued a “buy” rating and a $23.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Eastern Bankshares 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.