Eastern Bankshares ( (EBC) ) has shared an announcement.
Eastern Bankshares, Inc. reported its fourth-quarter 2024 financial results, highlighting a net income of $60.8 million and an operating net income of $68.3 million. The Board has approved a regular quarterly cash dividend of $0.12 per share, payable in March 2025. The company is set to undergo a significant $1.2 billion investment portfolio repositioning in Q1 2025, expected to increase operating earnings per share by $0.13. The merger with Cambridge Trust has bolstered the company’s position in the region, allowing for enhanced customer offerings and financial performance improvements, with a full-year operating net income increase of 18% over 2023.
More about Eastern Bankshares
Eastern Bankshares, Inc., the holding company of Eastern Bank, is a financial institution operating in the Boston area, providing retail, commercial, and wealth management services. The company focuses on strengthening its market presence and expanding its offerings following its merger with Cambridge Bancorp.
YTD Price Performance: 4.42%
Average Trading Volume: 936,829
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.8B
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