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Eastern Bankshares, Inc. (NASDAQ:EBC), a $3.37 billion regional bank that has raised its dividend for four consecutive years and currently offers a 3.04% yield, reported the results of its 2025 annual meeting of shareholders held on May 19, according to a statement filed with the Securities and Exchange Commission. According to InvestingPro analysis, while the company faces current profitability challenges, analysts expect a return to profitability this year.
Shareholders elected five directors to serve two-year terms expiring at the 2027 annual meeting. The elected directors are Richard E. Holbrook, Deborah C. Jackson, Peter K. Markell, Linda M. Williams, and Andargachew S. Zelleke. Each nominee received at least 161.6 million votes in favor, with votes against each ranging from approximately 2.4 million to 4.1 million. With analyst targets ranging from $17 to $23 per share, detailed financial analysis and additional insights are available through InvestingPro’s comprehensive research reports.
The meeting included an advisory vote on executive compensation. Shareholders approved the compensation of named executive officers, with 156,883,796 votes in favor, 9,717,870 votes against, and 2,253,230 abstentions. There were 19,740,955 broker non-votes recorded for this proposal.
Shareholders also ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The vote to ratify the appointment totaled 182,376,762 in favor, 3,694,957 against, and 2,524,132 abstentions.
The information is based on a press release statement included in the company’s SEC filing.
In other recent news, Eastern Bankshares Inc. reported earnings for the second quarter of 2025 that exceeded analyst expectations. The company achieved an earnings per share (EPS) of $0.41, surpassing the projected $0.38. Additionally, Eastern Bankshares reported revenue of $244.9 million, which was higher than the anticipated $241.32 million. These results reflect a strong performance in the quarter. The positive earnings and revenue figures were notable highlights for investors. Following the earnings announcement, the stock experienced movement in both regular and aftermarket trading. These developments indicate that Eastern Bankshares is performing well against market expectations. Investors will be watching closely for future updates from the company.
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