Eastern Bankshares, Inc. (NASDAQ:EBC) Plans $0.11 Quarterly Dividend

Eastern Bankshares, Inc. (NASDAQ:EBC) announced a quarterly dividend on Thursday, July 25th, Zacks reports. Investors of record on Tuesday, September 3rd will be given a dividend of 0.11 per share on Monday, September 16th. This represents a $0.44 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Tuesday, September 3rd.

Eastern Bankshares has a dividend payout ratio of 31.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Eastern Bankshares to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 29.5%.

Eastern Bankshares Trading Up 3.4 %

Shares of Eastern Bankshares stock opened at $16.88 on Friday. Eastern Bankshares has a fifty-two week low of $10.65 and a fifty-two week high of $17.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market cap of $2.98 billion, a P/E ratio of 5.92 and a beta of 0.89. The firm has a 50-day simple moving average of $14.11 and a two-hundred day simple moving average of $13.66.

Eastern Bankshares (NASDAQ:EBC) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $232.72 million for the quarter, compared to the consensus estimate of $157.45 million. Eastern Bankshares had a return on equity of 5.14% and a net margin of 48.38%. During the same quarter in the prior year, the business posted $0.28 earnings per share. As a group, equities analysts predict that Eastern Bankshares will post 1.16 earnings per share for the current fiscal year.

Eastern Bankshares Company Profile

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.