Will Eastern Bankshares Inc. (EBC) benefit from Wall Street bulls Calls?

Eastern Bankshares Inc. (NASDAQ: EBC) is 0.49% higher on its value in year-to-date trading and has touched a low of $9.93 and a high of $16.06 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The EBC stock was last observed hovering at around $13.92 in the last trading session, with the day’s gains setting it 0.35%.

Currently trading at $14.27, the stock is 3.03% and 3.28% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.38 million and changing 2.51% at the moment leaves the stock 11.23% off its SMA200. EBC registered -10.03% loss for a year compared to 6-month loss of -2.06%.

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The stock witnessed a 0.92% gain in the last 1 month and extending the period to 3 months gives it a 25.07%, and is 5.00% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.14% over the week and 3.29% over the month.

Eastern Bankshares Inc. (EBC) has around Feb 29 2024 employees, a market worth around $2.52B and $615.94M in sales. Current P/E ratio is 10.03 and Fwd P/E is 9.48. Profit margin for the company is 37.69%. Distance from 52-week low is 43.71% and -11.15% from its 52-week high. The company has generated returns on investments over the last 12 months (7.68%).

Eastern Bankshares Inc. quarterly earnings per share for the current quarter are estimated at $0.2 with sales reaching $136.27M over the same period.The EPS is expected to grow by 21.15% this year, but quarterly earnings will post 25.60% year-over-year. Quarterly sales are estimated to shrink -5.10% in year-over-year returns.

Eastern Bankshares Inc. (EBC) Top Institutional Holders

248 institutions hold shares in Eastern Bankshares Inc. (EBC), with institutional investors hold 70.67% of the company’s shares. The shares outstanding are 176.33M, and float is at 159.06M with Short Float at 2.71%. Institutions hold 69.85% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 16.27 million shares valued at $199.59 million. The investor’s holdings represent 9.22% of the EBC Shares outstanding. As of Jun 29, 2023, the second largest holder is T. Rowe Price Investment Management, Inc. with 13.03 million shares valued at $159.84 million to account for 7.39% of the shares outstanding. The other top investors are Blackrock Inc. which holds 11.53 million shares representing 6.54% and valued at over $141.47 million, while FMR, LLC holds 4.51% of the shares totaling 7.95 million with a market value of $97.51 million.

Eastern Bankshares Inc. (EBC) Insider Activity

A total of 2 insider transactions have happened at Eastern Bankshares Inc. (EBC) in the last six months, with sales accounting for 2 and purchases happening 0 times. The most recent transaction is an insider sale by Stager Nancy Huntington,the company’sExecutive VP. SEC filings show that Stager Nancy Huntington sold 18,465 shares of the company’s common stock on Dec 01 at a price of $12.08 per share for a total of $0.22 million. Following the sale, the insider now owns 493.0 shares.

Eastern Bankshares Inc. disclosed in a document filed with the SEC on Nov 14 that Stager Nancy Huntington (Executive VP) sold a total of 18,465 shares of the company’s common stock. The trade occurred on Nov 14 and was made at $12.06 per share for $0.22 million. Following the transaction, the insider now directly holds 4202.0 shares of the EBC stock.

Still, SEC filings show that on Oct 12, Stager Nancy Huntington (Executive VP) disposed off 18,465 shares at an average price of $12.07 for $0.22 million. The insider now directly holds 7,911 shares of Eastern Bankshares Inc. (EBC).

Eastern Bankshares Inc. (EBC): Who are the competitors?

The company’s main competitors (and peers) include JPMorgan Chase & Co. (JPM) that is trading 23.30% up over the past 12 months. Bank of America Corp. (BAC) that is -5.69% lower over the same period.