Deutsche Bank AG Has $4.51 Million Holdings in Eastern Bankshares, Inc. (NASDAQ:EBC)

Deutsche Bank AG lifted its position in shares of Eastern Bankshares, Inc. (NASDAQ:EBC) by 25.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,250 shares of the company’s stock after purchasing an additional 45,163 shares during the quarter. Deutsche Bank AG’s holdings in Eastern Bankshares were worth $4,512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in EBC. Steward Partners Investment Advisory LLC bought a new position in shares of Eastern Bankshares during the 2nd quarter worth approximately $41,000. RPg Family Wealth Advisory LLC bought a new position in shares of Eastern Bankshares during the 2nd quarter worth approximately $51,000. Freedman Financial Associates Inc. bought a new position in shares of Eastern Bankshares during the 3rd quarter worth approximately $91,000. Pinz Capital Management LP bought a new position in shares of Eastern Bankshares during the 2nd quarter worth approximately $130,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Eastern Bankshares by 600.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,000 shares of the company’s stock worth $144,000 after buying an additional 6,000 shares during the period. 47.29% of the stock is currently owned by institutional investors.

Shares of EBC opened at $22.04 on Friday. The stock has a fifty day moving average price of $20.76 and a two-hundred day moving average price of $20.06. Eastern Bankshares, Inc. has a 52-week low of $15.87 and a 52-week high of $23.03. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 50.09 and a beta of 1.35.

Eastern Bankshares (NASDAQ:EBC) last issued its quarterly earnings data on Wednesday, October 27th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Eastern Bankshares had a return on equity of 4.46% and a net margin of 12.40%. The firm had revenue of $145.90 million during the quarter, compared to the consensus estimate of $150.95 million. On average, sell-side analysts forecast that Eastern Bankshares, Inc. will post 0.94 EPS for the current fiscal year.

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

In other news, Director Bari A. Harlam sold 17,500 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.01% of the company’s stock.

Several equities analysts recently commented on EBC shares. Zacks Investment Research upgraded 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 initiated coverage on Eastern Bankshares in a research report on Tuesday, November 16th. They set an “overweight” rating and a $25.00 target price for the company.

About Eastern Bankshares

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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