Eastern Bankshares Inc. (NASDAQ: EBC) is 13.45% 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 $15.95 in the last trading session, with the day’s gains setting it 0.16%.
Currently trading at $16.11, the stock is -2.23% and 0.14% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.82 million and changing 1.00% at the moment leaves the stock 13.40% off its SMA200. EBC registered 29.40% gain for a year compared to 6-month gain of 17.42%. The firm has a 50-day simple moving average (SMA 50) of $16.0806 and a 200-day simple moving average (SMA200) of $14.222275.
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The stock witnessed a -2.89% loss in the last 1 month and extending the period to 3 months gives it a 19.16%, and is -5.73% 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 2.00% over the week and 2.44% over the month.
Eastern Bankshares Inc. (EBC) has around 1744 employees, a market worth around $3.47B and $912.29M in sales. Current P/E ratio is 5.92 and Fwd P/E is 11.17. Profit margin for the company is 48.51%. Distance from 52-week low is 51.27% and -6.66% 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 0.33 with sales reaching $181.84M over the same period.The EPS is expected to grow by 10.91% this year, but quarterly earnings will post 14.00% year-over-year. Quarterly sales are estimated to grow 32.50% in year-over-year returns.
265.0 institutions hold shares in Eastern Bankshares Inc. (EBC), with institutional investors hold 63.93% of the company’s shares. The shares outstanding are 215.65M, and float is at 198.03M with Short Float at 1.90%. Institutions hold 63.28% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 16.34 million shares valued at $228.49 million. The investor’s holdings represent 10.0354 of the EBC Shares outstanding. As of 2024-06-30, the second largest holder is FMR LLC with 13.52 million shares valued at $188.98 million to account for 8.3 of the shares outstanding. The other top investors are BLACKROCK INC. which holds 12.66 million shares representing 7.7729 and valued at over $176.98 million, while T. ROWE PRICE INVESTMENT MANAGEMENT, INC. holds 6.0222 of the shares totaling 9.81 million with a market value of $137.12 million.
Eastern Bankshares Inc. (EBC) Insider Activity
The most recent transaction is an insider sale by Miller Quincy Lee, the company’s President. SEC filings show that Miller Quincy Lee sold 12,676 shares of the company’s common stock on Sep 04 ’24 at a price of $16.66 per share for a total of $0.21 million. Following the sale, the insider now owns 0.0 shares.
Still, SEC filings show that on Aug 21 ’24, Palandjian Leon Aghababai (Director) acquired 5,000 shares at an average price of $15.64 for $78200.0. The insider now directly holds 91,506 shares of Eastern Bankshares Inc. (EBC).
