Eastern Bankshares, Inc. to Issue Quarterly Dividend of $0.13 (NASDAQ:EBC)

Eastern Bankshares, Inc. (NASDAQ:EBC) announced a quarterly dividend on Thursday, January 22nd. Investors of record on Friday, March 6th will be given a dividend of 0.13 per share on Friday, March 20th. This represents a c) annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Friday, March 6th.

Eastern Bankshares has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Eastern Bankshares to earn $1.72 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 30.2%.

Eastern Bankshares Price Performance

Shares of EBC traded down $0.10 during mid-day trading on Friday, reaching $20.26. The stock had a trading volume of 492,376 shares, compared to its average volume of 1,733,422. The business has a fifty day moving average of $18.92 and a 200 day moving average of $17.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 81.11 and a beta of 0.81. Eastern Bankshares has a 12 month low of $13.51 and a 12 month high of $20.89.

Eastern Bankshares (NASDAQ:EBC) last released its earnings results on Thursday, January 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. Eastern Bankshares had a return on equity of 7.94% and a net margin of 4.97%.The firm had revenue of $243.40 million during the quarter, compared to analysts’ expectations of $287.09 million. Equities analysts predict that Eastern Bankshares will post 1.49 EPS for the current year.

Eastern Bankshares Company Profile

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.