Joseph Casey Sells 10,000 Shares of Eastern Bankshares (NASDAQ:EBC) Stock

Posted by Francis Steltz on Aug 22nd, 2026

Eastern Bankshares, Inc. (NASDAQ:EBC – Get Free Report) Director Joseph Casey sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $23.62, for a total value of $236,200.00. Following the sale, the director directly owned 82,079 shares of the company’s stock, valued at $1,938,705.98. This represents a 10.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eastern Bankshares Price Performance

Shares of EBC opened at $22.74 on Friday. Eastern Bankshares, Inc. has a 52-week low of $15.95 and a 52-week high of $23.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50 day moving average price is $22.47 and its two-hundred day moving average price is $20.94. The firm has a market cap of $5.20 billion, a PE ratio of 12.92 and a beta of 0.68.

Eastern Bankshares (NASDAQ:EBC – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $316.01 million for the quarter, compared to analysts’ expectations of $308.20 million. Eastern Bankshares had a return on equity of 8.71% and a net margin of 25.12%. On average, equities analysts anticipate that Eastern Bankshares, Inc. will post 1.88 EPS for the current year.

Eastern Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, September 8th. Eastern Bankshares’s payout ratio is presently 34.09%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Eastern Bankshares by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 21,874,030 shares of the company’s stock valued at $403,138,000 after purchasing an additional 2,440,017 shares during the last quarter. UBS Group AG boosted its position in shares of Eastern Bankshares by 249.9% during the fourth quarter. UBS Group AG now owns 1,810,225 shares of the company’s stock valued at $33,362,000 after buying an additional 1,292,857 shares during the last quarter. Algebris UK Ltd. grew its holdings in Eastern Bankshares by 21.8% during the fourth quarter. Algebris UK Ltd. now owns 624,471 shares of the company’s stock worth $11,514,000 after buying an additional 111,811 shares in the last quarter. Minerva Advisors LLC purchased a new stake in Eastern Bankshares in the 4th quarter valued at $1,153,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Eastern Bankshares by 25.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,447,779 shares of the company’s stock valued at $28,319,000 after buying an additional 289,458 shares during the last quarter. Institutional investors and hedge funds own 71.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EBC shares. Seaport Research Partners reaffirmed a “buy” rating and issued a $27.00 price target on shares of Eastern Bankshares in a research note on Monday, July 27th. Wall Street Zen cut shares of Eastern Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Hovde Group raised their target price on Eastern Bankshares from $23.50 to $26.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. DA Davidson boosted their target price on Eastern Bankshares from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Barclays dropped their price target on Eastern Bankshares from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.86.

Read Our Latest Research Report on Eastern Bankshares

About Eastern Bankshares

(Get Free Report)

Eastern Bankshares, Inc is the bank holding company for Eastern Bank, one of the oldest and largest mutual banks in the United States. Founded in 1818 as Salem Savings Bank and later rebranded as Eastern Bank in 1989, the company preserved its mutual ownership structure for more than two centuries. In March 2020, it completed an initial public offering and began trading on the Nasdaq under the ticker EBC, while continuing to emphasize its community-focused heritage.

Through its primary subsidiary, Eastern Bank, the company delivers a broad range of commercial and consumer banking products.