Eastern Bankshares (NASDAQ:EBC) Announces Earnings Results

Eastern Bankshares (NASDAQ:EBC) announced its earnings results on Thursday. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05, Zacks reports. Eastern Bankshares had a return on equity of 4.49% and a net margin of 38.00%.

Eastern Bankshares Stock Up 0.3 %

NASDAQ EBC opened at $17.60 on Friday. Eastern Bankshares has a 52 week low of $12.22 and a 52 week high of $19.40. The company has a 50 day moving average price of $17.76 and a 200 day moving average price of $16.81. The firm has a market cap of $3.78 billion, a PE ratio of 7.59 and a beta of 0.94.

Insider Buying and Selling at Eastern Bankshares

In related news, Director Deborah C. Jackson sold 5,713 shares of Eastern Bankshares stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.56, for a total value of $106,033.28. Following the completion of the sale, the director now directly owns 67,284 shares in the company, valued at $1,248,791.04. This trade represents a 7.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price objective on Eastern Bankshares from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

About Eastern Bankshares

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.