Eastern Bankshares (EBC) Stock Price, News & Analysis

Company Overview

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. It also offers commercial and industrial, commercial real estate and construction, small business, residential real estate, and home equity loans; lines of credit; and other consumer loans comprising unsecured personal lines of credit, overdraft protection, automobile loans, home improvement loans, airplane loans, and other personal loans. In addition, the company provides trust, financial planning and portfolio management, automated lock box collection, cash management, and account reconciliation services; personal, business, and employee benefits insurance products. Eastern Bankshares, Inc. was founded in 1818 and is headquartered in Boston, Massachusetts.

Key Stats

• Today's Range: $17.77 to $18.73
• 50-Day Range: $15.82 to $18.86
• 52-Week Range: $11.86 to $19.15
• Volume: 608,182 shs
• Average Volume: 1.07 million shs
• Market Capitalization: $3.96 billion
• P/E Ratio: 7.95
• Dividend Yield: 2.38%
• Price Target: $18.75
• Consensus Rating: Moderate Buy

Eastern Bankshares Stock Analysis - MarketRank™

Eastern Bankshares scored higher than 88% of companies evaluated by MarketBeat, and ranked 182nd out of 963 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Eastern Bankshares has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 1 buy rating, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Eastern Bankshares has received no research coverage in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 33.67%

Earnings Growth

Earnings for Eastern Bankshares are expected to grow by 33.67% in the coming year, from $0.98 to $1.31 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Eastern Bankshares is 7.95, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 113.06.

Price to Earnings Ratio vs. Sector

The P/E ratio of Eastern Bankshares is 7.95, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 26.89.

Price to Book Value per Share Ratio

Eastern Bankshares has a P/B Ratio of 1.08. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.77% of the outstanding shares of Eastern Bankshares have been sold short.

Short Interest Ratio / Days to Cover

Eastern Bankshares has a short interest ratio ("days to cover") of 3.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Eastern Bankshares has recently increased by 4.40%, indicating that investor sentiment is decreasing.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Eastern Bankshares pays a meaningful dividend of 2.34%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Eastern Bankshares does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Eastern Bankshares is 20.69%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Eastern Bankshares will have a dividend payout ratio of 36.64% next year. This indicates that Eastern Bankshares will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 2.8 / 5
• Environmental Score: -0.65

Percentage of Shares Shorted

1.77% of the outstanding shares of Eastern Bankshares have been sold short.

Short Interest Ratio / Days to Cover

Eastern Bankshares has a short interest ratio ("days to cover") of 3.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Eastern Bankshares has recently increased by 4.40%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 3.3 / 5
• News Sentiment: 0.98

News Sentiment

Eastern Bankshares has a news sentiment score of 0.98. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.67 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 5 news articles for Eastern Bankshares this week, compared to 3 articles on an average week.

Search Interest

Only 3 people have searched for EBC on MarketBeat in the last 30 days. This is a decrease of -25% compared to the previous 30 days.

MarketBeat Follows

3 people have added Eastern Bankshares to their MarketBeat watchlist in the last 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Eastern Bankshares insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $211,182.00 in company stock.

Percentage Held by Insiders

Only 1.15% of the stock of Eastern Bankshares is held by insiders.

Percentage Held by Institutions

71.68% of the stock of Eastern Bankshares is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

EBC Stock Analysis - Frequently Asked Questions

How have EBC shares performed this year?

Eastern Bankshares' stock was trading at $14.20 at the beginning of the year. Since then, EBC shares have increased by 29.9% and is now trading at $18.45.
View the best growth stocks for 2024 here.

How were Eastern Bankshares' earnings last quarter?

Eastern Bankshares, Inc. (NASDAQ:EBC) released its quarterly earnings data on Thursday, October, 24th. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.33 by $0.08. The business had revenue of $299.55 million for the quarter, compared to analysts' expectations of $215.92 million. Eastern Bankshares had a net margin of 38.00% and a trailing twelve-month return on equity of 4.49%.

Who are Eastern Bankshares' major shareholders?

Top institutional investors of Eastern Bankshares include FMR LLC (8.59%), State Street Corp (3.23%), Geode Capital Management LLC (2.14%) and Jennison Associates LLC (1.84%). Insiders that own company stock include Greg Allen Sr Shell, Luis Borgen, Gregory Paul Buscone, Nancy Huntington Stager, Quincy Lee Miller and Bari A Harlam.
View institutional ownership trends.

How do I buy shares of Eastern Bankshares?

Shares of EBC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Eastern Bankshares own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Eastern Bankshares investors own include Tesla (TSLA), JPMorgan Chase & Co. (JPM), Meta Platforms (META), NVIDIA (NVDA), Advanced Micro Devices (AMD), Home Depot (HD) and Netflix (NFLX).

Company Calendar

• Ex-Dividend for 9/16 Dividend: 9/03/2024
• Dividend Payable: 9/16/2024
• Last Earnings: 10/24/2024
• Today: 11/17/2024
• Ex-Dividend for 12/16 Dividend: 12/03/2024
• Dividend Payable: 12/16/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/23/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: Federal savings institutions
• Sub-Industry: Banking
• Current Symbol: NASDAQ:EBC
• CUSIP: N/A
• CIK: 1810546
• Web: www.easternbank.com
• Phone: 800-327-8376
• Fax: N/A
• Employees: 1,744
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $18.75
• High Stock Price Target: $19.00
• Low Stock Price Target: $18.50
• Potential Upside/Downside: +1.6%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.50
• Research Coverage: 2 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $2.32
• Trailing P/E Ratio: 7.95
• Forward P/E Ratio: 18.83
• P/E Growth: N/A
• Net Income: $232.18 million
• Net Margins: 38.00%
• Pretax Margin: 11.82%
• Return on Equity: 4.49%
• Return on Assets: 0.64%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 0.87
• Quick Ratio: 0.84

Sales & Book Value

• Annual Sales: $558.71 million
• Price / Sales: 7.09
• Cash Flow: $1.13 per share
• Price / Cash Flow: 16.31
• Book Value: $17.10 per share
• Price / Book: 1.08

Miscellaneous

• Outstanding Shares: 214,660,000
• Free Float: 212,194,000
• Market Cap: $3.96 billion
• Optionable: Optionable
• Beta: 0.89