Eastern Bankshares Inc (NASDAQ: EBC) has experienced a rise in its stock price by 10.26 compared to its previous closing price of 16.57. However, the company has seen a gain of 9.86% in its stock price over the last five trading days. zacks.com reported 2024-10-28 that MURGY, DOV and EBC have been added to the Zacks Rank #5 (Strong Sell) List on October 28, 2024.
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 7.86x compared to its average ratio, The 36-month beta value for EBC is at 0.88. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 0 rating it as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for EBC is 198.29M, and currently, shorts hold a 1.83% of that float. The average trading volume for EBC on November 06, 2024 was 963.33K shares.
EBC’s Market Performance
EBC stock saw an increase of 9.86% in the past week, with a monthly gain of 13.48% and a quarterly increase of 21.31%. The volatility ratio for the week is 2.84%, and the volatility levels for the last 30 days are 2.67% for Eastern Bankshares Inc (EBC). The simple moving average for the past 20 days is 8.99% for EBC’s stock, with a 25.30% 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 10.62% 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 able to rebound, for now settling with 4.46% of gains for the given period.
Volatility was left at 2.67%, however, over the last 30 days, the volatility rate increased by 2.84%, as shares surge +12.52% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.01% upper at present.
During the last 5 trading sessions, EBC rose by +9.74%, which changed the moving average for the period of 200-days by +30.64% in comparison to the 20-day moving average, which settled at $16.76. In addition, Eastern Bankshares Inc saw 28.66% 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:
- 0.12 for the present operating margin
- 0.95 for the gross margin
The net margin for Eastern Bankshares Inc stands at 0.38. The total capital return value is set at 0.01. Equity return is now at value 12.33, with 1.62 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 2.5. The debt to equity ratio resting at 0.02. The interest coverage ratio of the stock is 0.8.
Currently, EBITDA for the company is -62.69 million with net debt to EBITDA at -1.99. When we switch over and look at the enterprise to sales, we see a ratio of 3.97. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.10.
Conclusion
In conclusion, Eastern Bankshares Inc (EBC) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
