Eastern Bankshares Inc. [EBC] Revenue clocked in at $413.30 million, up 20.85% YTD: What’s Next?

Eastern Bankshares Inc. [NASDAQ: EBC] jumped around 0.5 points on Friday, while shares priced at $19.71 at the close of the session, up 2.60%. The company report on March 17, 2021 that Eastern Bankshares, Inc. Added To The KBW Nasdaq Regional Banking Index.

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Eastern Bankshares, Inc. (the “Company,” or together with its affiliates and subsidiaries, “Eastern”) (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, announced that the Company has been added to the KBW Nasdaq Regional Banking Index (Index Ticker: KRX) as part of the first quarter 2021 index rebalancing. The addition will be effective prior to the opening of business on Monday, March 22, 2021.

“We are honored to be added to the KBW Nasdaq Regional Banking Index,” said Bob Rivers, Chief Executive Officer and Chair of the Board of Eastern Bankshares, Inc. “This step reflects what we believe is another strong milestone following our initial public offering just five months ago, and we look forward to continuing to build awareness about Eastern within the broader investment community.”.

Compared to the average trading volume of 1.02M shares, EBC reached a trading volume of 7884309 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Eastern Bankshares Inc. [EBC]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EBC shares is $19.30 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EBC stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Seaport Global Securities have made an estimate for Eastern Bankshares Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 18, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Neutral. The new note on the price target was released on November 10, 2020, representing the official price target for Eastern Bankshares Inc. stock. Previously, the target price had yet another raise to $15, while Keefe Bruyette analysts kept a Outperform rating on EBC stock.

The Average True Range (ATR) for Eastern Bankshares Inc. is set at 0.60, with the Price to Sales ratio for EBC stock in the period of the last 12 months amounting to 8.68.

How has EBC stock performed recently?

Eastern Bankshares Inc. [EBC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.92.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EBC stock in for the last two-week period is set at 77.60, with the RSI for the last a single of trading hit 79.61, and the three-weeks RSI is set at 75.32 for Eastern Bankshares Inc. [EBC]. The present Moving Average for the last 50 days of trading for this stock 17.17, while it was recorded at 19.30 for the last single week of trading.

Eastern Bankshares Inc. [EBC]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Eastern Bankshares Inc. [EBC] shares currently have an operating margin of +6.05. Eastern Bankshares Inc.’s Net Margin is presently recorded at +3.83.

Return on Total Capital for EBC is now 1.36, given the latest momentum, and Return on Invested Capital for the company is 0.89. Return on Equity for this stock inclined to 0.90, with Return on Assets sitting at 0.16. When it comes to the capital structure of this company, Eastern Bankshares Inc. [EBC] has a Total Debt to Total Equity ratio set at 0.82. Additionally, EBC Total Debt to Total Capital is recorded at 0.81, with Total Debt to Total Assets ending up at 0.18. Long-Term Debt to Equity for the company is recorded at 0.82, with the Long-Term Debt to Total Capital now at 0.81.

Insider trade positions for Eastern Bankshares Inc. [EBC]

There are presently around $1,668 million, or 46.40% of EBC stock, in the hands of institutional investors. The top three institutional holders of EBC stocks are: VANGUARD GROUP INC with ownership of 15,889,055, which is approximately New of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 11,466,094 shares of the stock with an approximate value of $226.0 million in EBC stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $140.64 million in EBC stock with ownership of nearly New of the company’s market capitalization.

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Positions in Eastern Bankshares Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 136 institutional holders increased their position in Eastern Bankshares Inc. [NASDAQ:EBC] by around 84,648,308 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 84,648,308 shares, according to the latest SEC report filing. EBC stock had 136 new institutional investments in for a total of 84,648,308 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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