Do Analysts Think Eastern Bankshares Inc. (EBC) Is Still Worth Buying In 2024?

Eastern Bankshares Inc. (NASDAQ:EBC) does about 760.63K shares in volume on a normal day but saw 758863 shares change hands in the recent trading day. The company now has a market cap of 2.46B USD. Its current market price is $13.92, marking an increase of 1.61% compared to the previous close of $13.70. The 52 week high reached by this stock is $15.07 whilst the lowest price level in 52 weeks is $10.65.

Eastern Bankshares Inc. (EBC) has a 20-day trading average at $13.41 and the current price is -7.63% off the 52-week high compared with 30.70% distance from its 52-week low. The 50-day simple moving average of the closing price is $13.51 and its 200-day simple moving average is $13.12. If we look at the stock’s price movements over the week, volatility stands at 2.09%, which increases to 2.20% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 57.88 to suggest the stock is neutral.

The consensus objective for the share price is $16.50, suggesting that the stock has a potential upside of 15.64% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on September 12, 2023 when Seaport Research Partners initiated the stock to “Buy” and issued a price target of $16. JP Morgan downgraded the stock to “Underweight” from Neutral on January 31, 2023 at a price target of $19.50-$15. Janney downgraded its price target at $17.

Eastern Bankshares Inc. (EBC) stock is up 0.80% over the week and 4.90% over the past month. Its price is -1.97% year-to-date and 12.71% over the past year.

To reach the target analysts have set, the stock logically needs to grow 15.64 percent from here.

The company has a return on investment of 15.19% and return on equity of 6.59%. The price to earnings ratio (P/E ratio) amounts to 4.87 while the forward price to earnings ratio is 9.36. The beta has a value of 0.89. Price to book ratio is 0.83 and price to sales ratio is 2.63.