NASDAQ:EBC

Eastern Bankshares (EBC) Stock Forecast, Price & News

$12.59

+0.14 (+1.12%)

(As of 09/27/2023 ET)

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Today's Range: $12.37
▼
$12.67
50-Day Range: $12.44
▼
$14.58
52-Week Range: $9.93
▼
$21.54

Volume: 837,908 shs
Average Volume: 968,777 shs
Market Capitalization: $2.22 billion

P/E Ratio: N/A
Dividend Yield: 3.18%
Price Target: $17.38

Eastern Bankshares MarketRank™ Forecast

Analyst Rating: Hold
2.00 Rating Score
Upside/Downside: 38.0% Upside
$17.38 Price Target
Short Interest: Healthy
1.61% of Float Sold Short
Dividend Strength: Weak
Based on Four Factors
Sustainability: -0.69
Upright™ Environmental Score
News Sentiment: 0.64
Based on 13 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 14.88%
From $1.21 to $1.39 Per Share

Overall MarketRank^™

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

2.59 out of 5 stars

Finance Sector

316th out of 861 stocks

Federal Savings Institutions Industry

14th out of 38 stocks

3.0

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 $17.38, Eastern Bankshares has a forecasted upside of 38.0% from its current price of $12.59.
Amount of Analyst Coverage
Eastern Bankshares has only been the subject of 2 research reports in the past 90 days.

5.0

Short Interest

Percentage of Shares Shorted
1.61% 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 3.2, 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 24.04%, indicating that investor sentiment is improving significantly.

1.7

Dividend Strength

Dividend Yield
Eastern Bankshares pays a meaningful dividend of 3.17%, 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 Sustainability
Based on earnings estimates, Eastern Bankshares will have a dividend payout ratio of 28.78% next year. This indicates that Eastern Bankshares will be able to sustain or increase its dividend.

2.5

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Eastern Bankshares has received a 15.25% 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", "Online banking", "Wire transfer services", "Home contents insurance services for individuals", and "Third-party payment processing services" products. See details.
Environmental Sustainability
The Environmental Impact score for Eastern Bankshares is -0.69.

3.1

News and Social Media Coverage

News Sentiment
Eastern Bankshares has a news sentiment score of 0.64. 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 0.77 average news sentiment score of Finance companies.
News Coverage This Week
MarketBeat has tracked 13 news articles for Eastern Bankshares this week, compared to 2 articles on an average week.
Search Interest
8 people have searched for EBC on MarketBeat in the last 30 days. This is an increase of 700% compared to the previous 30 days.
MarketBeat Follows
5 people have added Eastern Bankshares to their MarketBeat watchlist in the last 30 days.

0.8

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Eastern Bankshares insiders have not sold or bought any 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 14.88% in the coming year, from $1.21 to $1.39 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Eastern Bankshares is -40.61, 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 -40.61, 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 0.90. 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 (NASDAQ:EBC) Stock

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 Price History

30 days | 90 days | 365 days | Advanced Chart

EBC Stock News Headlines

September 23, 2023 | benzinga.com

Lifshitz Law PLLC Announces Investigations of EBC, AMTI, SPLK

September 22, 2023 | americanbankingnews.com

Eastern Bankshares (NASDAQ:EBC) Trading Up 2.3% on Analyst Upgrade

September 28, 2023 | Behind the Markets (Ad)

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The Wall Street Journal reports that this medical breakthrough is "Transforming Medicine." One analyst calculated that it could be worth $1 Trillion, making the upside potential of this small-cap 66,000% above today's price.

September 22, 2023 | americanbankingnews.com

Eastern Bankshares, Inc. Forecasted to Earn Q3 2023 Earnings of $0.33 Per Share (NASDAQ:EBC)

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 21, 2023 | americanbankingnews.com

Eastern Bankshares (NASDAQ:EBC) Price Target Raised to $16.50 at Piper Sandler

September 20, 2023 | msn.com

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

September 28, 2023 | Behind the Markets (Ad)

66,000% upside on tiny biotech?

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

August 16, 2023 | finance.yahoo.com

Eastern Bank Provides Financing For LeClair Village Apartments, An Affordable Housing Development On Cape Cod

August 12, 2023 | seekingalpha.com

Eastern Bankshares: Better Opportunities Are Out There

August 10, 2023 | seekingalpha.com

Eastern Bankshares: Low Diversification Of Loan Portfolio But Steady NIM

August 2, 2023 | msn.com

Eastern Bankshares (EBC) Price Target Increased by 8.33% to 15.47

July 29, 2023 | markets.businessinsider.com

Piper Sandler Keeps Their Buy Rating on Eastern Bankshares (EBC)

July 28, 2023 | seekingalpha.com

Eastern Bankshares, Inc. 2023 Q2 - Results - Earnings Call Presentation

July 28, 2023 | msn.com

Compared to Estimates, Eastern Bankshares, Inc. (EBC) Q2 Earnings: A Look at Key Metrics

July 28, 2023 | msn.com

Eastern Bankshares, Inc. (EBC) Misses Q2 Earnings Estimates

July 28, 2023 | finance.yahoo.com

Eastern Bankshares, Inc. Reports Second Quarter 2023 Financial Results

July 20, 2023 | finance.yahoo.com

Analysts Estimate Eastern Bankshares, Inc. (EBC) to Report a Decline in Earnings: What to Look Out for

July 11, 2023 | finance.yahoo.com

Eastern Bank Provides Financing For Raycon Construction, LLC’s Conversion To An Employee-Owned Company

July 6, 2023 | finance.yahoo.com

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

June 30, 2023 | nasdaq.com

JP Morgan Maintains Eastern Bankshares (EBC) Underweight Recommendation

See More Headlines

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EBC Company Calendar

Last Earnings: 7/27/2023
Ex-Dividend for 9/15 Dividend: 8/31/2023
Dividend Payable: 9/15/2023
Today: 9/28/2023
Next Earnings (Estimated): 10/26/2023
Fiscal Year End: 12/31/2023

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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 Forecast: $17.38
High Stock Price Forecast: $22.00
Low Stock Price Forecast: $14.00
Forecasted Upside/Downside: +38.0%
Consensus Rating: Hold
Rating Score (0-4): 2.00
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.31)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 10.40
P/E Growth: N/A
Net Income: $199.76 million
Net Margins: 25.57%
Pretax Margin: -11.41%
Return on Equity: 8.49%
Return on Assets: 0.95%

Debt

Debt-to-Equity Ratio: 0.12
Current Ratio: 0.81
Quick Ratio: 0.81

Sales & Book Value

Annual Sales: $781.34 million
Price / Sales: 2.84
Cash Flow: $1.41 per share
Price / Cash Flow: 8.95
Book Value: $13.99 per share
Price / Book: 0.90

Miscellaneous

Outstanding Shares: 176,380,000
Free Float: 174,066,000
Market Cap: $2.22 billion
Optionable: Not Optionable
Beta: 0.76

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Key Executives

Mr. Robert F. Rivers (Age 58)
Chairman & CEO
Comp: $2.23M

Mr. Quincy L. Miller (Age 48)
Pres
Comp: $1.09M

Mr. James B. Fitzgerald (Age 65)
CFO, Chief Admin. Officer & Treasurer
Comp: $1.1M

Ms. Kathleen Cloherty Henry Esq. (Age 50)
Exec. VP, Gen. Counsel & Corp. Sec.
Comp: $724.52k

Mr. Donald Michael Westermann (Age 45)
Exec. VP & Chief Information Officer of Eastern Bank
Comp: $723.05k

Ms. Jillian A. Belliveau
Head of Investor Relations

Mr. Timothy J. Lodge (Age 46)
Pres & CEO of Eastern Insurance Group LLC

Ms. Nancy Huntington Stager (Age 62)
Pres & CEO of Eastern Bank Foundation

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

EBC Stock - Frequently Asked Questions

Should I buy or sell Eastern Bankshares stock right now?: 3 Wall Street 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 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 forecast for 2023?: 3 analysts have issued 1-year target prices for Eastern Bankshares' shares. Their EBC share price forecasts range from $14.00 to $22.00. On average, they expect the company's share price to reach $17.38 in the next twelve months. This suggests a possible upside of 38.0% 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 on January 1st, 2023. Since then, EBC shares have decreased by 27.0% and is now trading at $12.59.
View the best growth stocks for 2023 here.
Are investors shorting Eastern Bankshares?: Eastern Bankshares saw a decrease in short interest during the month of September. As of September 15th, there was short interest totaling 2,560,000 shares, a decrease of 24.0% from the August 31st total of 3,370,000 shares. Based on an average daily volume of 795,100 shares, the days-to-cover ratio is presently 3.2 days. Approximately 1.6% of the company's stock are sold short.
View Eastern Bankshares' Short Interest.
When is Eastern Bankshares' next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, October 26th 2023.
View our EBC earnings forecast.
How were Eastern Bankshares' earnings last quarter?: Eastern Bankshares, Inc. (NASDAQ:EBC) announced its quarterly earnings data on Thursday, July, 27th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by $0.02. The firm earned $195.42 million during the quarter, compared to analyst estimates of $181.17 million. Eastern Bankshares had a net margin of 25.57% and a trailing twelve-month return on equity of 8.49%.
How often does Eastern Bankshares pay dividends? What is the dividend yield for Eastern Bankshares?: Eastern Bankshares declared a quarterly dividend on Thursday, July 27th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.10 per share on Friday, September 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, August 31st.
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).

Is Eastern Bankshares a good dividend stock?: Eastern Bankshares (NASDAQ:EBC) pays an annual dividend of $0.40 per share and currently has a dividend yield of 3.17%.
Read our dividend analysis for EBC.
What is Eastern Bankshares' stock symbol?: Eastern Bankshares trades on the NASDAQ under the ticker symbol "EBC."
Who are Eastern Bankshares' major shareholders?: Eastern Bankshares' stock is owned by a variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (6.54%), State Street Corp (3.18%), Brown Advisory Inc. (2.18%), Geode Capital Management LLC (1.84%), Jennison Associates LLC (1.84%) and Dimensional Fund Advisors LP (1.44%). Insiders that own company stock include Bari A Harlam, Greg Allen Sr Shell and Luis Borgen.
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.
What is Eastern Bankshares' stock price today?: One share of EBC stock can currently be purchased for approximately $12.59.
How much money does Eastern Bankshares make?: Eastern Bankshares (NASDAQ:EBC) has a market capitalization of $2.22 billion and generates $781.34 million in revenue each year. The company earns $199.76 million in net income (profit) each year or ($0.31) on an earnings per share basis.
How many employees does Eastern Bankshares have?: The company employs 2,146 workers across the globe.
How can I contact Eastern Bankshares?: The official website for the company is www.easternbank.com. The company can be reached via phone at 800-327-8376 or via email at investorrelations@easternbank.com.

This page (NASDAQ:EBC) was last updated on 9/28/2023 by MarketBeat.com Staff

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