Eastern Bankshares Inc. (NASDAQ: EBC) is -10.07% lower on its value in year-to-date trading and has touched a low of $9.93 and a high of $15.07 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The EBC stock was last observed hovering at around $13.37 in the last trading session, with the day’s loss setting it -0.6%.
Currently trading at $12.77, the stock is -3.56% and -6.42% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.5 million and changing -4.49% at the moment leaves the stock -2.15% off its SMA200. EBC registered 2.98% gain for a year compared to 6-month gain of -3.98%.
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The stock witnessed a -4.06% loss in the last 1 month and extending the period to 3 months gives it a 0.08%, and is -3.18% down 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 3.18% over the week and 2.72% over the month.
Eastern Bankshares Inc. (EBC) has around 1744 employees, a market worth around $2.25B and $616.90M in sales. Current P/E ratio is 8.97 and Fwd P/E is 8.53. Profit margin for the company is 37.64%. Distance from 52-week low is 28.60% and -15.26% from its 52-week high. The company has generated returns on investments over the last 12 months (7.57%).
Eastern Bankshares Inc. quarterly earnings per share for the current quarter are estimated at $0.2 with sales reaching $135.22M over the same period.The EPS is expected to grow by 18.40% this year, but quarterly earnings will post 23.30% year-over-year. Quarterly sales are estimated to shrink -5.80% in year-over-year returns.
253 institutions hold shares in Eastern Bankshares Inc. (EBC), with institutional investors hold 73.36% of the company’s shares. The shares outstanding are 176.43M, and float is at 159.06M with Short Float at 3.17%. Institutions hold 72.49% 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
The most recent transaction is an insider sale by Stager Nancy Huntington, the company’s Executive VP. SEC filings show that Stager Nancy Huntington sold 18,465 shares of the company’s common stock on Dec 01 ’23 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 ’23 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 ’23 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 ’23, 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).
