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Monday, June 5, 2023

Eastern Bankshares Inc. (EBC): A Case For Going Higher

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Eastern Bankshares Inc. (EBC) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.22, or 1.89%, to $11.87. The Eastern Bankshares Inc. has recorded 13,849 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Eastern Bankshares, Inc. Reports First Quarter 2023 Financial Results.

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Stocks Info

This NASDAQ-listed company operates within the Banks – Regional industry segment, falling under the Financial sector. At the end of the last regular session, the stock closed at $11.65 and fluctuated between $12.15 as its day high and $11.53 as its day low. The current market capitalization of Eastern Bankshares Inc. is $2.13B. A total of 0.64 million shares were traded on the day, compared to an average of 1.32M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, EBC has seen 11 BUY and 11 SELL insider trades, representing the acquisition of 100,371 and the disposition of 31,421 shares. Over the last 12 months, there were 11 BUYs and 18 SELLs from insiders. Insiders purchased 100,371 shares during that period but sold 162,329.

In the most recent transaction, Jackson Deborah C sold 1,320 shares of EBC for 11.21 per share on May 15. After the transaction, the Director now owns 76,214 company shares. In a previous transaction on May 15, Harlam Bari A sold 1,150 shares at 11.21 per share. EBC shares that Director owns now total 76,097.

Among the insiders who sold shares, Borgen Luis disposed of 12,419 shares on Nov 30 at a per-share price of $19.21. This resulted in the Director holding 77,546 shares of EBC after the transaction. In another insider transaction, Jackson Deborah C sold 5,713 shares at $19.21 per share on Nov 30. Company shares held by the Director now total 72,752.


The income generated by dividends is an indication that a company is improving its financial position, which is why investors prefer companies paying dividends. EBC’s most recent ex-dividend date was 6/1/2023 when it declared a $0.10 quarterly dividend that was paid in cash on 6/15/2023. Previously, the company paid the dividend on 3/15/2023 with an ex-dividend date of 3/2/2023. The EBC stock dividend was $0.10 per share in cash.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for EBC in the last 3 months, the mean price target is $13.13 with high estimates of $15.00 and low estimates of $12.00. In terms of 52-week highs and lows, EBC has a high of $21.54 and a low of $9.93.

As of this writing, EBC has an earnings estimate of $0.32 per share for the current quarter. EPS was calculated based on a consensus of 4 estimates, with a high estimate of $0.35 per share and a lower estimate of $0.28. The company reported an EPS of $0.31 in the last quarter, which was -8.80% lower than expectations of $0.34.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. Its Book Value Per Share was $15.92, while its Total Shareholder’s Equity was $3.41B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for EBC is Buy with a score of 3.00.

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