Eastern Bankshares, Inc. (NASDAQ:EBC) Shareholders to Collect $0.15 Quarterly Dividend

Eastern Bankshares, Inc. (NASDAQ:EBC) 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 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, December 7th.

Eastern Bankshares has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NASDAQ EBC opened at $22.21 on Friday. Eastern Bankshares has a one year low of $16.61 and a one year high of $23.77. The stock has a 50-day moving average of $21.76 and a 200 day moving average of $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 company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 12.70 and a beta of 0.70.

Eastern Bankshares (NASDAQ:EBC) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $311.70 million for the quarter, compared to the consensus estimate of $310.60 million. Eastern Bankshares had a net margin of 25.12% and a return on equity of 8.71%. On average, sell-side analysts forecast that Eastern Bankshares will post 1.88 EPS for the current 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.