Wells Fargo & Company MN Buys 8,513 Shares of Eastern Bankshares, Inc. (NASDAQ:EBC)
2025-04-26T07:46:51Z
Wells Fargo & Company MN grew its stake in shares of Eastern Bankshares, Inc. (NASDAQ:EBC – Free Report) by 7.0% during the 4th quarter, Holdings Channel reports. The firm owned 130,818 shares of the company’s stock after buying an additional 8,513 shares dur…
Wells Fargo & Company MN grew its stake in shares of Eastern Bankshares, Inc. (NASDAQ:EBC – Free Report) by 7.0% during the 4th quarter, Holdings Channel reports. The firm owned 130,818 shares of the company’s stock after buying an additional 8,513 shares during the period. Wells Fargo & Company MN’s holdings in Eastern Bankshares were worth $2,257,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC increased its position in Eastern Bankshares by 57.5% during the fourth quarter. HighTower Advisors LLC now owns 59,206 shares of the company’s stock worth $1,021,000 after buying an additional 21,621 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Eastern Bankshares by 14.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,815,393 shares of the company’s stock worth $31,316,000 after acquiring an additional 223,681 shares during the period. Norges Bank acquired a new position in shares of Eastern Bankshares during the 4th quarter worth approximately $37,196,000. Raymond James Financial Inc. bought a new stake in Eastern Bankshares in the 4th quarter valued at $311,000. Finally, SG Americas Securities LLC lifted its holdings in Eastern Bankshares by 479.2% during the 4th quarter. SG Americas Securities LLC now owns 43,929 shares of the company’s stock valued at $758,000 after purchasing an additional 36,344 shares during the last quarter. Institutional investors own 71.68% of the company’s stock.
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Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $22.00 price objective (up from $21.00) on shares of Eastern Bankshares in a report on Monday, January 27th.
Eastern Bankshares Stock Down 6.5 %
Shares of NASDAQ:EBC opened at $14.77 on Friday. Eastern Bankshares, Inc. has a 12-month low of $12.54 and a 12-month high of $19.40. The business has a 50 day moving average of $16.04 and a 200-day moving average of $17.15. The stock has a market cap of $3.15 billion, a PE ratio of 22.04 and a beta of 0.96.
Eastern Bankshares (NASDAQ:EBC – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Eastern Bankshares had a return on equity of 6.02% and a net margin of 11.07%. The business had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $226.98 million. Equities research analysts expect that Eastern Bankshares, Inc. will post 1.49 earnings per share for the current year.
Eastern Bankshares Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Tuesday, June 3rd will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 3.52%. This is an increase from Eastern Bankshares’s previous quarterly dividend of $0.12. Eastern Bankshares’s dividend payout ratio is currently 71.64%.
Insiders Place Their Bets
In other news, CFO R David Rosato bought 10,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $15.40 per share, for a total transaction of $154,000.00. Following the transaction, the chief financial officer now owns 20,000 shares of the company’s stock, valued at $308,000. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Eastern Bankshares Profile
(Free Report)
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.
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Want to see what other hedge funds are holding EBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eastern Bankshares, Inc. (NASDAQ:EBC – Free Report).
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