NASDAQ:EBC

Eastern Bankshares (EBC) Stock Forecast, Price & News

$10.93

-0.22 (-1.97%)

(As of 02:28 PM ET)

Compare

Today's Range: $10.69
▼
$11.12
50-Day Range: $10.48
▼
$12.66
52-Week Range: $9.93
▼
$21.54

Volume: 254,588 shs
Average Volume: 1.09 million shs
Market Capitalization: $1.93 billion

P/E Ratio: N/A
Dividend Yield: 3.66%
Price Target: $17.17

Eastern Bankshares MarketRank™ Forecast

Analyst Rating: Hold
1.50 Rating Score
Upside/Downside: 59.0% Upside
$17.17 Price Target
Short Interest: Healthy
1.86% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: -0.75
Upright™ Environmental Score
News Sentiment: 0.96
Based on 4 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 1.53%
From $1.31 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.

2.24 out of 5 stars

Finance Sector

612th out of 901 stocks

Federal Savings Institutions Industry

27th out of 45 stocks

2.8

Analyst's Opinion

Consensus Rating
Eastern Bankshares has received a consensus rating of Hold. The company's average rating score is 1.50, and is based on no buy ratings, 1 hold rating, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $17.17, Eastern Bankshares has a forecasted upside of 59.0% from its current price of $10.80.
Amount of Analyst Coverage
Eastern Bankshares has received no research coverage in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
1.86% 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 2.3, 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 19.35%, indicating that investor sentiment is decreasing significantly.

2.5

Dividend Strength

Dividend Leadership
Eastern Bankshares is a leading dividend payer. It pays a dividend yield of 3.54%, putting its dividend yield in the top 25% of dividend-paying stocks.
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 30.08% next year. This indicates that Eastern Bankshares will be able to sustain or increase its dividend.

2.6

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Eastern Bankshares has received a 16.24% 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", "Development loans for corporations", "Wire transfer services", and "Home contents insurance services for individuals" products. See details.
Environmental Sustainability
The Environmental Impact score for Eastern Bankshares is -0.75.

2.8

News and Social Media Coverage

News Sentiment
Eastern Bankshares has a news sentiment score of 0.96. 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 0.69 average news sentiment score of Finance companies.
News Coverage This Week
MarketBeat has tracked 4 news articles for Eastern Bankshares this week, compared to 2 articles on an average week.
MarketBeat Follows
Only 4 people have added Eastern Bankshares to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 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
54.88% of the stock of Eastern Bankshares is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3

Earnings and Valuation

Earnings Growth
Earnings for Eastern Bankshares are expected to grow by 1.53% in the coming year, from $1.31 to $1.33 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Eastern Bankshares is -36.00, 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 -36.00, 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 0.74. 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 interest-bearing and non interest-bearing checking deposits, money market deposits, savings deposits, and time certificates of deposits, as well as debit and credit cards. It also offers commercial and industrial loans, commercial real estate and construction loans, small business loans, residential real estate loans, home equity, and lines of credit, as well as 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 cash reserves, cash management, merchant, escrow express, government banking, international banking, interest on lawyers trust accounts, retirement planning, and business telephone banking services, as well as products and services for not-for-profit and healthcare. Further, it offers trust and investment products and services; community development and asset-based lending services; financial planning, portfolio management, wealth management, private banking, and fiduciary products; online, mobile, and telephone banking services; and automated lock box collection and account reconciliation services, as well as various insurance products. As of December 31, 2021, the company operated 105 branch offices in eastern Massachusetts and southern New Hampshire; and 23 non-branch offices in eastern Massachusetts, one office in New Hampshire, and one office in Rhode Island. Eastern Bankshares, Inc. was founded in 1818 and is headquartered in Boston, Massachusetts.

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EBC Stock News Headlines

May 31, 2023 | americanbankingnews.com

Eastern Bankshares, Inc. Declares Quarterly Dividend of $0.10 (NASDAQ:EBC)

May 3, 2023 | finance.yahoo.com

Eastern Bankshares, Inc. (EBC) Reports Next Week: What You Should Expect

May 31, 2023 | Edge On The Street (Ad)

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Lithium may grab all the headlines, but the average electric vehicle requires 146 pounds of the mineral graphite. With no producing graphite mines in North America, the U.S. government is desperate for more domestic sources of the metal to feed the EV battery supply chain.

May 2, 2023 | msn.com

A Painful but Necessary Move: Eastern Bankshares Repositions Its Balance Sheet

May 1, 2023 | seekingalpha.com

Eastern Bankshares, Inc. (EBC) Q1 2023 Earnings Call Transcript

April 29, 2023 | msn.com

Eastern Bankshares (EBC) Declares $0.10 Dividend

April 28, 2023 | msn.com

Eastern Bankshares (EBC) Q1 2023 Earnings Call Transcript

April 28, 2023 | seekingalpha.com

Eastern Bankshares, Inc. 2023 Q1 - Results - Earnings Call Presentation

May 31, 2023 | Edge On The Street (Ad)

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April 27, 2023 | msn.com

Eastern Bankshares, Inc. (EBC) Beats Q1 Earnings Estimates

April 27, 2023 | finance.yahoo.com

Eastern Bankshares, Inc. Reports First Quarter 2023 Financial Results

April 26, 2023 | msn.com

Eastern Bankshares's Earnings Outlook

April 26, 2023 | americanbankingnews.com

Eastern Bankshares (EBC) Scheduled to Post Quarterly Earnings on Thursday

April 23, 2023 | seekingalpha.com

Eastern Bankshares: Loan Growth To Counter The Effect Of Margin Compression

April 6, 2023 | americanbankingnews.com

Eastern Bankshares (NASDAQ:EBC) PT Lowered to $12.50 at JPMorgan Chase & Co.

April 5, 2023 | finance.yahoo.com

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

March 27, 2023 | finance.yahoo.com

With 66% ownership of the shares, Eastern Bankshares, Inc. (NASDAQ:EBC) is heavily dominated by institutional owners

March 14, 2023 | forbes.com

Eastern Bankshares

March 11, 2023 | benzinga.com

Eastern Bankshares Stock (NASDAQ:EBC), Dividends

March 10, 2023 | benzinga.com

Eastern Bankshares Stock (NASDAQ:EBC), Guidance and Forecast

February 1, 2023 | finance.yahoo.com

Eastern Bankshares (NASDAQ:EBC) Will Pay A Dividend Of $0.10

January 31, 2023 | msn.com

JP Morgan Downgrades Eastern Bankshares: Here's What You Need To Know

January 30, 2023 | finance.yahoo.com

Eastern Bankshares, Inc. (NASDAQ:EBC) Q4 2022 Earnings Call Transcript

January 29, 2023 | uk.investing.com

Eastern Bankshares earnings missed by $0.05, revenue fell short of estimates

January 27, 2023 | seekingalpha.com

Eastern Bankshares, Inc. (EBC) Q4 2022 Earnings Call Transcript

January 27, 2023 | finance.yahoo.com

Eastern Bank reports record profits in 2022, but warns of belt-tightening ahead

January 27, 2023 | markets.businessinsider.com

Eastern Bankshares Down 11% As Q4 Earnings Fell Shy Of Estimates

See More Headlines

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EBC Company Calendar

Last Earnings: 10/27/2021
Ex-Dividend for 3/15 Dividend: 3/02/2023
Dividend Payable: 3/15/2023
Today: 5/31/2023
Ex-Dividend for 6/15 Dividend: 6/01/2023
Dividend Payable: 6/15/2023
Next Earnings (Estimated): 7/27/2023
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: $17.17
High Stock Price Forecast: $22.00
Low Stock Price Forecast: $12.50
Forecasted Upside/Downside: +60.0%
Consensus Rating: Hold
Rating Score (0-4): 1.50
Research Coverage: 2 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($0.30)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 8.19
P/E Growth: N/A
Net Income: $199.76 million
Net Margins: 25.57%
Pretax Margin: -12.80%
Return on Equity: 8.61%
Return on Assets: 0.98%

Debt

Debt-to-Equity Ratio: 0.43
Current Ratio: 0.84
Quick Ratio: 0.84

Sales & Book Value

Annual Sales: $781.34 million
Price / Sales: 2.42
Cash Flow: $1.34 per share
Price / Cash Flow: 8.01
Book Value: $14.63 per share
Price / Book: 0.73

Miscellaneous

Outstanding Shares: 176,330,000
Free Float: 174,018,000
Market Cap: $1.89 billion
Optionable: Not Optionable
Beta: 0.66

Key Executives

Mr. Robert F. Rivers (Age 58)
Chairman & CEO
Comp: $4.12M

Mr. Quincy L. Miller (Age 48)
Pres
Comp: $1.75M

Mr. James B. Fitzgerald (Age 65)
CFO, Chief Admin. Officer & Treasurer
Comp: $1.77M

Ms. Jillian A. Belliveau
Head of Investor Relations

Ms. Kathleen Cloherty Henry Esq. (Age 50)
Exec. VP, Gen. Counsel & Corp. Sec.

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

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

EBC Stock - Frequently Asked Questions

Should I buy or sell Eastern Bankshares stock right now?: 2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Eastern Bankshares in the last year. There are currently 1 sell rating and 1 hold rating for the stock. The consensus among Wall Street equities 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 forecast for 2023?: 2 Wall Street research analysts have issued 12-month price targets for Eastern Bankshares' stock. Their EBC share price forecasts range from $12.50 to $22.00. On average, they expect the company's stock price to reach $17.17 in the next year. This suggests a possible upside of 60.0% 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 at the beginning of the year. Since then, EBC stock has decreased by 37.8% and is now trading at $10.73.
View the best growth stocks for 2023 here.
Are investors shorting Eastern Bankshares?: Eastern Bankshares saw a increase in short interest during the month of May. As of May 15th, there was short interest totaling 2,960,000 shares, an increase of 19.4% from the April 30th total of 2,480,000 shares. Based on an average trading volume of 1,300,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.9% of the shares of the 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, July 27th 2023.
View our EBC earnings forecast.
How were Eastern Bankshares' earnings last quarter?: Eastern Bankshares, Inc. (NASDAQ:EBC) announced its quarterly earnings data on Wednesday, October, 27th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $145.90 million for the quarter, compared to analyst estimates of $150.95 million. Eastern Bankshares had a net margin of 25.57% and a trailing twelve-month return on equity of 8.61%.
How often does Eastern Bankshares pay dividends? What is the dividend yield for Eastern Bankshares?: Eastern Bankshares declared a quarterly dividend on Thursday, April 27th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.10 per share on Thursday, June 15th. This represents a $0.40 annualized dividend and a yield of 3.73%. The ex-dividend date is Thursday, June 1st.
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), iShares MSCI USA Small-Cap Min Vol Factor ETF (SMMV), SPDR S&P Regional Banking ETF (KRE), SPDR S&P Bank ETF (KBE), Fidelity Small-Mid Cap Opportunities ETF (FSMO), Direxion Daily Regional Banks Bull 3x Shares (DPST), VictoryShares US Small Cap Volatility Wtd (CSA) and VictoryShares US Discovery Enhanced Volatility Wtd ETF (CSF).

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 3.54%.
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 many different retail and institutional investors. Top institutional investors include BlackRock Inc. (6.59%), FMR LLC (4.10%), Wellington Management Group LLP (2.92%), State Street Corp (2.92%), Brown Advisory Inc. (2.36%) and Geode Capital Management LLC (1.79%). 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 $10.73.
How much money does Eastern Bankshares make?: Eastern Bankshares (NASDAQ:EBC) has a market capitalization of $1.89 billion and generates $781.34 million in revenue each year. The company earns $199.76 million in net income (profit) each year or ($0.30) 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 5/31/2023 by MarketBeat.com Staff

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