Eastern Bankshares Inc. (NASDAQ: EBC) is 10.35% higher on its value in year-to-date trading and has touched a low of $10.65 and a high of $17.26 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 $15.51 in the last trading session, with the day’s gains setting it 0.16%.
Currently trading at $15.67, the stock is 0.57% and 6.24% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.85 million and changing 1.03% at the moment leaves the stock 14.65% off its SMA200. EBC registered 16.77% gain for a year compared to 6-month gain of 16.68%.
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The stock witnessed a -5.43% loss in the last 1 month and extending the period to 3 months gives it a 10.74%, and is 4.61% 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 2.28% over the week and 3.49% over the month.
Eastern Bankshares Inc. (EBC) has around 1744 employees, a market worth around $3.38B and $912.29M in sales. Current P/E ratio is 5.76 and Fwd P/E is 10.62. Profit margin for the company is 48.51%. Distance from 52-week low is 47.14% and -9.21% from its 52-week high. The company has generated returns on investments over the last 12 months (14.42%).
Eastern Bankshares Inc. quarterly earnings per share for the current quarter are estimated at 0.34 with sales reaching $185.91M over the same period.The EPS is expected to grow by 13.31% this year, but quarterly earnings will post 15.40% year-over-year. Quarterly sales are estimated to grow 35.50% in year-over-year returns.
262.0 institutions hold shares in Eastern Bankshares Inc. (EBC), with institutional investors hold 63.77% of the company’s shares. The shares outstanding are 215.65M, and float is at 197.91M with Short Float at 1.92%. Institutions hold 63.11% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 16.29 million shares valued at $224.44 million. The investor’s holdings represent 10.036 of the EBC Shares outstanding. As of 2024-03-31, the second largest holder is BLACKROCK INC. with 12.56 million shares valued at $173.1 million to account for 7.7401 of the shares outstanding. The other top investors are FMR LLC which holds 12.1 million shares representing 7.4585 and valued at over $166.8 million, while T. ROWE PRICE INVESTMENT MANAGEMENT, INC. holds 7.2508 of the shares totaling 11.77 million with a market value of $162.16 million.
Eastern Bankshares Inc. (EBC) Insider Activity
The most recent transaction is an insider sale by Borgen Luis, the company’s Director. SEC filings show that Borgen Luis sold 4,782 shares of the company’s common stock on May 15 ’24 at a price of $14.07 per share for a total of $67283.0. Following the sale, the insider now owns 41954.0 shares.
Eastern Bankshares Inc. disclosed in a document filed with the SEC on May 15 ’24 that Harlam Bari A (Director) sold a total of 1,913 shares of the company’s common stock. The trade occurred on May 15 ’24 and was made at $14.07 per share for $26916.0. Following the transaction, the insider now directly holds 73912.0 shares of the EBC stock.
Still, SEC filings show that on May 15 ’24, Jackson Deborah C (Director) disposed off 2,200 shares at an average price of $14.07 for $30954.0. The insider now directly holds 72,997 shares of Eastern Bankshares Inc. (EBC).
