Eastern Bankshares Inc. (NASDAQ:EBC) does about 1.09M shares in volume on a normal day but saw 1549827 shares change hands in the recent trading day. The company now has a market cap of 3.43B USD. Its current market price is $15.92, marking a decrease of -4.78% compared to the previous close of $16.72. The 52 week high reached by this stock is $17.49 whilst the lowest price level in 52 weeks is $10.65.
Eastern Bankshares Inc. (EBC) has a 20-day trading average at $16.50 and the current price is -8.98% off the 52-week high compared with 49.48% distance from its 52-week low. The 50-day simple moving average of the closing price is $16.40 and its 200-day simple moving average is $14.46. If we look at the stock’s price movements over the week, volatility stands at 2.98%, which decreases to 2.44% 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 40.98 to suggest the stock is neutral.
The consensus objective for the share price is $18.50, suggesting that the stock has a potential upside of 13.95% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 06, 2024 when JP Morgan resumed the stock to “Neutral” and issued a price target of between $14 and $18.50. JP Morgan downgraded its price target at $19.50-$15.
The current price level is -3.53%, -2.95%, and 10.08% away from its SMA20, SMA50, and SMA200 respectively, with the EBC price moving above the 50-day SMA on current market day. Eastern Bankshares Inc. (EBC) stock is down -7.87% over the week and -1.18% over the past month. Its price is 12.11% year-to-date and 38.19% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/30/2024, with the company’s earnings per share (EPS) of 0.1 below consensus estimates by -0.1. The company’s next earnings report forecasts estimating quarterly EPS at 0.31 and 1.02 for whole year. Expected sales for next quarter are $186.36M, which analysts say will come at $625.46M for the current fiscal year and next year at $768.27M. In addition, estimates put the company’s current quarterly revenue at an average of $183.43M.
To reach the target analysts have set, the stock logically needs to grow 13.95 percent from here.
Outstanding shares total 215.65M with insiders holding 0.97% of the shares and institutional holders owning 64.11% of the company’s common stock. The company has a return on investment of 10.08% and return on equity of 12.33%. The price to earnings ratio (P/E ratio) amounts to 6.85 while the forward price to earnings ratio is 11.90. The beta has a value of 0.88. Price to book ratio is 0.93 and price to sales ratio is 3.46.
