Eastern Bankshares (NASDAQ:EBC) Announces Quarterly Earnings Results

Eastern Bankshares (NASDAQ:EBC - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.05, Zacks reports. Eastern Bankshares had a net margin of 38.00% and a return on equity of 4.49%.

Eastern Bankshares Trading Up 0.3 %

EBC stock traded up $0.06 during trading on Thursday, reaching $17.60. The stock had a trading volume of 2,094,244 shares, compared to its average volume of 935,215. The firm has a market cap of $3.78 billion, a PE ratio of 7.59 and a beta of 0.94. The stock's 50 day moving average is $17.78 and its two-hundred day moving average is $16.81. Eastern Bankshares has a 52 week low of $12.22 and a 52 week high of $19.40.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their target price on shares of Eastern Bankshares from $19.00 to $21.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th.

Insider Transactions at Eastern Bankshares

In other Eastern Bankshares news, Director Deborah C. Jackson sold 5,713 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $18.56, for a total transaction of $106,033.28. Following the completion of the sale, the director now owns 67,284 shares of the company's stock, valued at approximately $1,248,791.04. The trade was a 7.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.15% of the company's stock.

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.

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