Eastern Bankshares, Inc. (NASDAQ:EBC – Get Free Report) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Monday, December 7th will be given a dividend of $0.15 per share on Monday, December 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, December 7th.
Eastern Bankshares has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eastern Bankshares to earn $2.13 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 28.2%.
Eastern Bankshares Stock Performance
Shares of EBC opened at $22.11 on Friday. Eastern Bankshares has a 52-week low of $16.61 and a 52-week high of $23.77. The stock’s 50-day simple moving average is $21.76 and its 200 day simple moving average is $21.39. 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 stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 12.56 and a beta of 0.70.
Eastern Bankshares (NASDAQ:EBC – Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Eastern Bankshares had a return on equity of 8.71% and a net margin of 25.12%. The business had revenue of $311.70 million during the quarter, compared to analyst estimates of $310.60 million. Research analysts forecast that Eastern Bankshares will post 1.88 EPS for the current fiscal year.
Eastern Bankshares Company Profile
Eastern Bankshares, Inc (NASDAQ:EBC) is the holding company for Eastern Bank, a full-service commercial bank headquartered in Boston, Massachusetts. Founded in 1818, Eastern Bank is one of the oldest and largest mutual banks in the United States to have converted to public ownership.
Eastern Bank provides a range of personal and business banking products, including checking and savings accounts, residential and commercial real estate loans, consumer lending, commercial loans, cash-management services and online banking.
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