Eastern Bankshares, Inc. (NASDAQ:EBC) Given Average Rating of “Hold” by Analysts

Eastern Bankshares, Inc. (NASDAQ:EBC) has been assigned a consensus rating of “Hold” from the three brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and two have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $15.25.

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Eastern Bankshares in a research report on Friday, January 26th.

Eastern Bankshares Price Performance

EBC stock opened at $13.13 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 0.82. Eastern Bankshares has a 52 week low of $9.93 and a 52 week high of $15.07. The firm’s fifty day moving average is $13.14 and its 200 day moving average is $13.07. The firm has a market cap of $2.32 billion, a P/E ratio of 9.31 and a beta of 0.85.

Eastern Bankshares (NASDAQ:EBC) last announced its quarterly earnings results on Thursday, January 25th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.11). The business had revenue of $160.05 million for the quarter, compared to analyst estimates of $153.53 million. Research analysts predict that Eastern Bankshares will post 1.18 earnings per share for the current year.

Insider Transactions at Eastern Bankshares

In related news, Director Luis Borgen sold 40,288 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $13.08, for a total value of $526,967.04. Following the completion of the transaction, the director now directly owns 42,040 shares in the company, valued at approximately $549,883.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Tortoise Investment Management LLC bought a new position in shares of Eastern Bankshares in the 4th quarter worth about $134,000. Mackenzie Financial Corp bought a new stake in Eastern Bankshares during the 4th quarter valued at about $164,000. Emerald Mutual Fund Advisers Trust bought a new stake in Eastern Bankshares during the 3rd quarter valued at about $151,000. Quadrature Capital Ltd bought a new stake in Eastern Bankshares during the 4th quarter valued at about $189,000. Finally, Jump Financial LLC bought a new stake in Eastern Bankshares during the 3rd quarter valued at about $220,000. 71.68% of the stock is currently owned by institutional investors.

Eastern Bankshares Company Profile

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. The company provides deposit accounts, interest checking accounts, money market accounts, savings accounts, and time certificates of deposit accounts.