Eastern Bankshares Inc. (EBC) Shares Soar Above 1-Year High

Eastern Bankshares Inc. (NASDAQ: EBC)’s stock price has gone rise by 3.30 in comparison to its previous close of 13.92, however, the company has experienced a 1.48% increase in its stock price over the last five trading days. businesswire.com reported 2024-05-20 that ATLANTA–(BUSINESS WIRE)–Chemical Insights Research Institute (CIRI) of UL Research Institutes applies cutting edge technologies to evaluate the toxicity of burn-impacted land areas affected by the August 2023 Lahaina wildfires. Created with CIRI research partners from Duke University and the East-West Center (EWC) in Hawai’i, the study known as Lahaina Environmental Assessment Project (LEAP), will collect and analyze residual dust, soil and ash samples from properties affected by the fires. T.

Is It Worth Investing in Eastern Bankshares Inc. (NASDAQ: EBC) Right Now?

Eastern Bankshares Inc. (NASDAQ: EBC) has a higher price-to-earnings ratio of 5.03x compared to its average ratio. EBC has 36-month beta value of 0.89. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for EBC is 159.37M, and currently, short sellers hold a 3.61% ratio of that float. The average trading volume of EBC on July 11, 2024 was 760.63K shares.

EBC’s Market Performance

The stock of Eastern Bankshares Inc. (EBC) has seen a 1.48% increase in the past week, with a 10.11% rise in the past month, and a 7.72% gain in the past quarter. The volatility ratio for the week is 2.64%, and the volatility levels for the past 30 days are at 2.38% for EBC. The simple moving average for the past 20 days is 7.19% for EBC’s stock, with a 9.62% simple moving average for the past 200 days.

Analysts’ Opinion of EBC

Many brokerage firms have already submitted their reports for EBC stocks, with Seaport Research Partners repeating the rating for EBC by listing it as a “Buy.” The predicted price for EBC in the upcoming period, according to Seaport Research Partners is $16 based on the research report published on September 12, 2023 of the previous year 2023.

JP Morgan, on the other hand, stated in their research note that they expect to see EBC reach a price target of $15, previously predicting the price at $19.50. The rating they have provided for EBC stocks is “Underweight” according to the report published on January 31st, 2023.

Janney gave a rating of “Neutral” to EBC, setting the target price at $17 in the report published on January 30th of the previous year.

EBC Trading at 6.45% from the 50-Day Moving Average

After a stumble in the market that brought EBC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -4.58% of loss for the given period.

Volatility was left at 2.38%, however, over the last 30 days, the volatility rate increased by 2.64%, as shares surge +11.91% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.28% upper at present.

During the last 5 trading sessions, EBC rose by +1.48%, which changed the moving average for the period of 200-days by +12.17% in comparison to the 20-day moving average, which settled at $13.49. In addition, Eastern Bankshares Inc. saw 1.27% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at EBC starting from Borgen Luis, who sale 4,782 shares at the price of $14.07 back on May 15 ’24. After this action, Borgen Luis now owns 41,954 shares of Eastern Bankshares Inc., valued at $67,283 using the latest closing price.

Jackson Deborah C, the Director of Eastern Bankshares Inc., sale 2,200 shares at $14.07 during a trade that took place back on May 15 ’24, which means that Jackson Deborah C is holding 72,997 shares at $30,954 based on the most recent closing price.

Stock Fundamentals for EBC

Current profitability levels for the company are sitting at:

  • 0.24 for the present operating margin
  • 0.97 for the gross margin

The net margin for Eastern Bankshares Inc. stands at 0.5. The total capital return value is set at 0.02. Equity return is now at value 6.59, with 0.83 for asset returns.

Based on Eastern Bankshares Inc. (EBC), the company’s capital structure generated 0.02 points at debt to capital in total, while cash flow to debt ratio is standing at 3.69. The debt to equity ratio resting at 0.02. The interest coverage ratio of the stock is 0.96.

Currently, EBITDA for the company is -62.69 million with net debt to EBITDA at -4.59. When we switch over and look at the enterprise to sales, we see a ratio of 2.35. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.07.

Conclusion

To put it simply, Eastern Bankshares Inc. (EBC) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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