Eastern Bankshares, Inc. (EBC) to Issue Quarterly Dividend of $0.13 on December 15th

Eastern Bankshares, Inc. (NASDAQ:EBC) announced a quarterly dividend on Thursday, October 23rd. Investors of record on Wednesday, December 3rd will be paid a dividend of 0.13 per share on Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, December 3rd.

Eastern Bankshares has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 3.8%

Shares of Eastern Bankshares stock opened at $17.66 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.01. Eastern Bankshares has a 12 month low of $13.51 and a 12 month high of $19.40. The business has a fifty day simple moving average of $17.65 and a 200 day simple moving average of $16.08. The stock has a market cap of $3.73 billion, a PE ratio of 70.64 and a beta of 0.95.

Eastern Bankshares (NASDAQ:EBC) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.32 EPS for the quarter. Eastern Bankshares had a return on equity of 8.04% and a net margin of 4.97%.The business had revenue of $162.26 million during the quarter. Research analysts predict that Eastern Bankshares will post 1.49 EPS for the current year.

About Eastern Bankshares

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.