Should I buy or sell Eastern Bankshares stock right now?

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Eastern Bankshares in the last twelve months. There are currently 1 sell rating, 1 hold rating and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" EBC shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in EBC, but not buy additional shares or sell existing shares. View EBC analyst ratings or view top-rated stocks .

What is Eastern Bankshares' stock price target for 2024?

3 brokers have issued 12-month target prices for Eastern Bankshares' shares. Their EBC share price targets range from $14.00 to $17.00. On average, they expect the company's stock price to reach $15.83 in the next twelve months. This suggests a possible upside of 22.6% from the stock's current price. View analysts price targets for EBC or view top-rated stocks among Wall Street analysts .

How have EBC shares performed in 2023?

Eastern Bankshares' stock was trading at $17.25 at the beginning of 2023. Since then, EBC shares have decreased by 25.2% and is now trading at $12.91. View the best growth stocks for 2023 here .

When is Eastern Bankshares' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, January 25th 2024. View our EBC earnings forecast .

How were Eastern Bankshares' earnings last quarter?

Eastern Bankshares, Inc. (NASDAQ:EBC) issued its earnings results on Thursday, October, 26th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $156.36 million for the quarter, compared to the consensus estimate of $174.56 million.

How often does Eastern Bankshares pay dividends? What is the dividend yield for Eastern Bankshares?

Eastern Bankshares announced a quarterly dividend on Thursday, October 26th. Shareholders of record on Friday, December 1st will be given a dividend of $0.11 per share on Friday, December 15th. This represents a $0.44 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from the stock's previous quarterly dividend of $0.10. Read our dividend analysis for EBC .

Is Eastern Bankshares a good dividend stock?

Eastern Bankshares (NASDAQ:EBC) pays an annual dividend of $0.44 per share and currently has a dividend yield of 3.48%. Read our dividend analysis for EBC .

What ETFs hold Eastern Bankshares' stock?

ETFs with the largest weight of Eastern Bankshares (NASDAQ:EBC) stock in their portfolio include Invesco KBW Regional Banking ETF (KBWR) . FlexShares Quality Dividend Defensive Index Fund (QDEF) .

Who are Eastern Bankshares' major shareholders?

Eastern Bankshares' stock is owned by a number of retail and institutional investors. Top institutional shareholders include FMR LLC (5.63%), Brown Advisory Inc. (2.17%), Jennison Associates LLC (1.83%), Wellington Management Group LLP (1.65%), William Blair Investment Management LLC (1.46%) and Northern Trust Corp (0.85%). Insiders that own company stock include Bari A Harlam , Greg Allen Sr Shell , Luis Borgen and Nancy Huntington Stager. 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 WeBull , Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab. Compare Top Brokerages Here .

Eastern Bankshares Stock Price, News & Analysis (NASDAQ:EBC)

$12.91

+0.27 (+2.14%)

(As of 12/4/2023 ET)

Compare

Today's Range: $12.51
▼
$12.91
50-Day Range: $11.00
▼
$12.91
52-Week Range: $9.93
▼
$19.49

Volume: 772,738 shs
Average Volume: 936,831 shs
Market Capitalization: $2.28 billion

P/E Ratio: N/A
Dividend Yield: 3.41%
Price Target: $15.83

Eastern Bankshares MarketRank™ Stock Analysis

Analyst Rating: Hold
2.00 Rating Score
Upside/Downside: 22.6% Upside
$15.83 Price Target
Short Interest: Healthy
2.02% of Float Sold Short
Dividend Strength: Weak
Based on Four Factors
Sustainability: -0.82
Upright™ Environmental Score
News Sentiment: N/A
Insider Trading: Selling Shares
$222,873 Sold Last Quarter
Proj. Earnings Growth: 11.76%
From $1.19 to $1.33 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.18 out of 5 stars

Finance Sector

216th out of 822 stocks

Federal Savings Institutions Industry

11th out of 39 stocks

2.0

Analyst's Opinion

Consensus Rating
Eastern Bankshares has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on 1 buy rating, 1 hold rating, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $15.83, Eastern Bankshares has a forecasted upside of 22.6% from its current price of $12.91.
Amount of Analyst Coverage
Eastern Bankshares has only been the subject of 1 research reports in the past 90 days.

4.0

Short Interest

Percentage of Shares Shorted
2.02% of the float of Eastern Bankshares has been sold short.
Short Interest Ratio / Days to Cover
Eastern Bankshares has a short interest ratio ("days to cover") of 3.6, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Eastern Bankshares has recently decreased by 0.93%, indicating that investor sentiment is improving.

1.7

Dividend Strength

Dividend Yield
Eastern Bankshares pays a meaningful dividend of 3.48%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
Eastern Bankshares has only been increasing its dividend for 2 years.
Dividend Sustainability
Based on earnings estimates, Eastern Bankshares will have a dividend payout ratio of 33.08% next year. This indicates that Eastern Bankshares will be able to sustain or increase its dividend.

2.8

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Eastern Bankshares has received a 21.21% net impact score from Upright. The largest positive contribution comes from its "Societal infrastructure" impact, which is mostly driven by its "Mortgages provided by brick and mortar banks", "Home equity loans", "Wire transfer services", "Third-party payment processing services", "Consumer savings accounts provided by brick and mortar banks", and "Online banking" products. See details.
Environmental Sustainability
The Environmental Impact score for Eastern Bankshares is -0.82.

2.0

News and Social Media Coverage

News Sentiment
Eastern Bankshares has a news sentiment score of 0.53. 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 lower news sentiment than the 0.63 average news sentiment score of Finance companies.
News Coverage This Week
MarketBeat has tracked 1 news article for Eastern Bankshares this week, compared to 2 articles on an average week.
MarketBeat Follows
3 people have added Eastern Bankshares to their MarketBeat watchlist in the last 30 days. This is an increase of 200% compared to the previous 30 days.

1.7

Company Ownership

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 $222,873.00 in company stock.
Percentage Held by Insiders
Only 1.31% of the stock of Eastern Bankshares is held by insiders.
Percentage Held by Institutions
58.03% of the stock of Eastern Bankshares is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Eastern Bankshares are expected to grow by 11.76% in the coming year, from $1.19 to $1.33 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Eastern Bankshares is -46.11, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Eastern Bankshares is -46.11, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Eastern Bankshares has a P/B Ratio of 0.92. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Eastern Bankshares Stock (NASDAQ:EBC)

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. It operates in two segments, Banking Business and Insurance Agency Business. 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. It operates branch offices in eastern Massachusetts and southern New Hampshire; and non-branch offices in eastern Massachusetts, and Providence, Rhode Island. Eastern Bankshares, Inc. was founded in 1818 and is headquartered in Boston, Massachusetts.

EBC Stock Price History

30 days | 90 days | 365 days | Advanced Chart

EBC Stock News Headlines

November 28, 2023 | finance.yahoo.com

Eastern Bankshares (NASDAQ:EBC) Will Pay A Larger Dividend Than Last Year At $0.11

November 27, 2023 | americanbankingnews.com

Eastern Bankshares, Inc. (NASDAQ:EBC) Receives Consensus Recommendation of "Hold" from Analysts

December 5, 2023 | DTI Trader (Ad)

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November 26, 2023 | finance.yahoo.com

It Might Not Be A Great Idea To Buy Eastern Bankshares, Inc. (NASDAQ:EBC) For Its Next Dividend

November 21, 2023 | seekingalpha.com

Eastern Bankshares Makes Cambridge Bancorp Look That Much Less Appetizing

November 16, 2023 | seekingalpha.com

Eastern Bankshares: Headwinds Starting To Ease

November 15, 2023 | finance.yahoo.com

Eastern Bank Welcomes Avedis Zildjian Co. As A Commercial Banking Customer

November 14, 2023 | finance.yahoo.com

Eastern Bankshares (NASDAQ:EBC) Is Increasing Its Dividend To $0.11

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October 31, 2023 | finance.yahoo.com

Eastern Bankshares, Inc. Announces Closing Of Eastern Insurance Group LLC Asset Sale

October 31, 2023 | finance.yahoo.com

Eastern Bankshares (NASDAQ:EBC) Is Paying Out A Dividend Of $0.11

October 30, 2023 | finance.yahoo.com

Eastern Bankshares, Inc. Appoints Marisa J. Harney And Linda M. Williams To Its Board Of Directors

October 30, 2023 | seekingalpha.com

Eastern Bankshares: Lifting Our Sell Rating

October 28, 2023 | finance.yahoo.com

Eastern Bankshares, Inc. (NASDAQ:EBC) Q3 2023 Earnings Call Transcript

October 26, 2023 | msn.com

Eastern Bankshares, Inc. (EBC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

October 26, 2023 | finance.yahoo.com

Eastern Bankshares, Inc. (EBC) Q3 Earnings Top Estimates

October 26, 2023 | finance.yahoo.com

Eastern Bankshares Inc (EBC) Announces Q3 2023 Financial Results and 10% Dividend Increase

October 5, 2023 | finance.yahoo.com

Eastern Bankshares, Inc. Announces Third Quarter 2023 Earnings Release Date, Conference Call and Webcast

September 23, 2023 | benzinga.com

Lifshitz Law PLLC Announces Investigations of EBC, AMTI, SPLK

September 21, 2023 | msn.com

Eastern Bankshares (EBC), Cambridge (CATC) Sign Merger Deal

September 21, 2023 | finance.yahoo.com

Cambridge (CATC) Soars 26.6%: Is Further Upside Left in the Stock?

September 20, 2023 | msn.com

Eastern Bank will acquire Cambridge Trust, and sell its insurance division

September 19, 2023 | technews.tmcnet.com

EBC Stock Alert: Halper Sadeh LLC Is Investigating Whether the Merger of Eastern Bankshares, Inc. Is Fair to Shareholders

September 19, 2023 | msn.com

Eastern Bankshares to sell insurance unit, merge with Cambridge Trust

September 19, 2023 | finance.yahoo.com

Eastern Bankshares, Inc. Announces Agreement to Sell the Insurance Operations of Eastern Insurance Group, LLC to Arthur J. Gallagher & Co. and Enters Into Definitive Agreement to Merge with Cambridge Bancorp

September 19, 2023 | finance.yahoo.com

Cambridge Bancorp Enters Into Definitive Agreement to Merge with Eastern Bankshares, Inc.

September 13, 2023 | nasdaq.com

Seaport Global Initiates Coverage of Eastern Bankshares (EBC) with Buy Recommendation

See More Headlines

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Company Calendar

Ex-Dividend for 9/15 Dividend: 8/31/2023
Dividend Payable: 9/15/2023
Last Earnings: 10/26/2023
Ex-Dividend for 12/15 Dividend: 11/30/2023
Today: 12/04/2023
Dividend Payable: 12/15/2023
Fiscal Year End: 12/31/2023
Next Earnings (Estimated): 1/25/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Federal savings institutions
Sub-Industry: N/A
Sector: Finance
Current Symbol: NASDAQ:EBC
CUSIP: N/A
CIK: 1810546
Web: www.easternbank.com
Phone: 800-327-8376
Fax: N/A
Employees: 2,146
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $15.83
High Stock Price Target: $17.00
Low Stock Price Target: $14.00
Potential Upside/Downside: +22.6%
Consensus Rating: Hold
Rating Score (0-4): 2.00
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.28)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 10.85
P/E Growth: N/A
Net Income: $199.76 million
Net Margins: N/A
Pretax Margin: -14.69%
Return on Equity: 8.32%
Return on Assets: 0.95%

Debt

Debt-to-Equity Ratio: 0.28
Current Ratio: 0.83
Quick Ratio: 0.82

Sales & Book Value

Annual Sales: $420.52 million
Price / Sales: 5.42
Cash Flow: $1.44 per share
Price / Cash Flow: 8.96
Book Value: $13.99 per share
Price / Book: 0.92

Miscellaneous

Outstanding Shares: 176,400,000
Free Float: 174,089,000
Market Cap: $2.28 billion
Optionable: Not Optionable
Beta: 0.84

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Key Executives

Mr. Robert F. Rivers (Age 58)
Chairman & CEO
Comp: $2.23M
Mr. Quincy L. Miller (Age 48)
President
Comp: $1.09M
Mr. James B. Fitzgerald (Age 65)
CFO, Chief Administrative Officer & Treasurer
Comp: $1.1M
Ms. Kathleen Cloherty Henry Esq. (Age 50)
Executive VP, General Counsel & Corporate Secretary
Comp: $724.52k
Mr. Donald Michael Westermann (Age 45)
Executive VP & Chief Information Officer of Eastern Bank
Comp: $723.05k
Ms. Jillian A. Belliveau
Head of Investor Relations
Ms. Nancy Huntington Stager (Age 62)
President & CEO of Eastern Bank Foundation

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

EBC Stock Analysis - Frequently Asked Questions

Should I buy or sell Eastern Bankshares stock right now?: 3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Eastern Bankshares in the last twelve months. There are currently 1 sell rating, 1 hold rating and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" EBC shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in EBC, but not buy additional shares or sell existing shares.
View EBC analyst ratings or view top-rated stocks.
What is Eastern Bankshares' stock price target for 2024?: 3 brokers have issued 12-month target prices for Eastern Bankshares' shares. Their EBC share price targets range from $14.00 to $17.00. On average, they expect the company's stock price to reach $15.83 in the next twelve months. This suggests a possible upside of 22.6% from the stock's current price.
View analysts price targets for EBC or view top-rated stocks among Wall Street analysts.
How have EBC shares performed in 2023?: Eastern Bankshares' stock was trading at $17.25 at the beginning of 2023. Since then, EBC shares have decreased by 25.2% and is now trading at $12.91.
View the best growth stocks for 2023 here.
When is Eastern Bankshares' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, January 25th 2024.
View our EBC earnings forecast.
How were Eastern Bankshares' earnings last quarter?: Eastern Bankshares, Inc. (NASDAQ:EBC) issued its earnings results on Thursday, October, 26th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.03. The company had revenue of $156.36 million for the quarter, compared to the consensus estimate of $174.56 million.
How often does Eastern Bankshares pay dividends? What is the dividend yield for Eastern Bankshares?: Eastern Bankshares announced a quarterly dividend on Thursday, October 26th. Shareholders of record on Friday, December 1st will be given a dividend of $0.11 per share on Friday, December 15th. This represents a $0.44 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from the stock's previous quarterly dividend of $0.10.
Read our dividend analysis for EBC.

Is Eastern Bankshares a good dividend stock?: Eastern Bankshares (NASDAQ:EBC) pays an annual dividend of $0.44 per share and currently has a dividend yield of 3.48%.
Read our dividend analysis for EBC.
What ETFs hold Eastern Bankshares' stock?: ETFs with the largest weight of Eastern Bankshares (NASDAQ:EBC) stock in their portfolio include Invesco KBW Regional Banking ETF (KBWR).FlexShares Quality Dividend Defensive Index Fund (QDEF).
Who are Eastern Bankshares' major shareholders?: Eastern Bankshares' stock is owned by a number of retail and institutional investors. Top institutional shareholders include FMR LLC (5.63%), Brown Advisory Inc. (2.17%), Jennison Associates LLC (1.83%), Wellington Management Group LLP (1.65%), William Blair Investment Management LLC (1.46%) and Northern Trust Corp (0.85%). Insiders that own company stock include Bari A Harlam, Greg Allen Sr Shell, Luis Borgen and Nancy Huntington Stager.
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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NASDAQ:EBC) was last updated on 12/5/2023 by MarketBeat.com Staff

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