Eastern Bankshares Inc. (NASDAQ: EBC)’s stock price has gone rise by 0.24 in comparison to its previous close of 16.68, however, the company has experienced a -4.35% decrease in its stock price over the last five trading days. zacks.com reported 2024-10-24 that While the top- and bottom-line numbers for Eastern Bankshares (EBC) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
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 6.15x compared to its average ratio. EBC has 36-month beta value of 0.88. Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 0 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for EBC is 198.29M, and currently, short sellers hold a 1.83% ratio of that float. The average trading volume of EBC on October 25, 2024 was 1.11M shares.
EBC’s Market Performance
The stock of Eastern Bankshares Inc. (EBC) has seen a -4.35% decrease in the past week, with a 4.83% rise in the past month, and a -0.95% fall in the past quarter. The volatility ratio for the week is 2.30%, and the volatility levels for the past 30 days are at 2.28% for EBC.. The simple moving average for the past 20 days is 1.26% for EBC’s stock, with a 15.68% simple moving average for the past 200 days.
Analysts’ Opinion of EBC
Many brokerage firms have already submitted their reports for EBC stocks, with JP Morgan repeating the rating for EBC by listing it as a “Neutral.” The predicted price for EBC in the upcoming period, according to JP Morgan is $18.50 based on the research report published on August 06, 2024 of the current year 2024.
Seaport Research Partners, on the other hand, stated in their research note that they expect to see EBC reach a price target of $16. The rating they have provided for EBC stocks is “Buy” according to the report published on September 12th, 2023.
JP Morgan gave a rating of “Underweight” to EBC, setting the target price at $15 in the report published on January 31st of the previous year.
EBC Trading at 2.00% 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 -4.40% of loss for the given period.
Volatility was left at 2.28%, however, over the last 30 days, the volatility rate increased by 2.30%, as shares surge +3.79% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.62% upper at present.
During the last 5 trading sessions, EBC fell by -4.35%, which changed the moving average for the period of 200-days by +16.60% in comparison to the 20-day moving average, which settled at $16.51. In addition, Eastern Bankshares Inc. saw 17.75% 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 Miller Quincy Lee, who sale 12,676 shares at the price of $16.66 back on Sep 04 ’24. After this action, Miller Quincy Lee now owns 0 shares of Eastern Bankshares Inc., valued at $211,182 using the latest closing price.
Miller Quincy Lee, the Officer of Eastern Bankshares Inc., proposed sale 12,676 shares at $16.66 during a trade that took place back on Sep 04 ’24, which means that Miller Quincy Lee is holding shares at $211,167 based on the most recent closing price.
Stock Fundamentals for EBC
Current profitability levels for the company are sitting at:
- 0.23 for the present operating margin
- 0.94 for the gross margin
The net margin for Eastern Bankshares Inc. stands at 0.45. The total capital return value is set at 0.03. Equity return is now at value 5.82, with 0.75 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 3.61. The debt to equity ratio resting at 0.02. The interest coverage ratio of the stock is 0.88.
Currently, EBITDA for the company is -62.69 million with net debt to EBITDA at -7.78. When we switch over and look at the enterprise to sales, we see a ratio of 3.48. 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 mixed performance in recent times. Analysts have a bullish 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.
