The stock of Eastern Bankshares Inc. (NASDAQ:EBC) increased by $0.12 on Friday to finish at $14.57, up 0.83 percent. The last five days have seen an average of 570,920 shares of common stock traded. 4 times new highs were reached in the current year, with a fall of -$2.68. The average number of shares traded over the last 20 days was 707,620, while the average volume over the last 50 days totaled 732,314.
EBC stock appreciated 11.82% since last month. On 07/12/23, the company’s shares reached a one-month low of $12.70. The stock touched a high of $21.54 on 01/06/23, after rallying from a low of $9.93 in 52 weeks. The price of EBC stock has declined by -15.54% or -$2.68 this year, reaching a new high 4 times. Still, the stock price is down -32.36% from the 52-week high.
Insider Transactions
EBC stock investors should be aware that Eastern Bankshares Inc. (EBC) stock had its last reported insider trading activity 91 days ago on May 15. On May 15, Director Jackson Deborah C sold 1,320 shares at $11.21 each. This transaction resulted in the insider making $14,797. On May 15, Harlam Bari A sold 1,150 shares at a price of US$11.21. After the transaction, the insider now owns 76,097 shares. Director Borgen Luis had earlier sold 12,419 shares on Nov 30 for $19.21 a share. The transaction was completed for $238,569.
Valuation Metrics
Beta for the stock is 0.74. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.52, the price-to-book (PB) ratio of 0.94, and the price-to-cash flow ratio of 11.03.
Company paid $0.10 per share in dividends, remained unchanged from $0.10 last year. A $0.02 dividend increase was reported on Thursday January 27 2022.
Financial Health
Eastern Bankshares Inc.’s operating margin stood at 77.00% for the same period. Based on annual data, it had gross profit of $568.05 million and revenue of $605.18 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. EBC’s return on assets (ROA) during the last 12 months has been -0.20%. There was a 20.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -1.90%.
Earnings Surprise
A higher net income was reported in the quarter under review than the previous quarter. At the end of Eastern Bankshares Inc.’s most recent quarter, its total debt was $480.79 million. Equity owned by shareholders amounts to $176.38 million.
Technical Picture
Here’s a quick look at Eastern Bankshares Inc.’s (EBC) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 66.14%, suggesting the stock is Neutral, with a 12.48% historical volatility rate.
The stochastic %K and %D were 78.27% and 77.42% respectively, while the average true range (ATR) was 0.39. Based on the 14-day stochastic reading of 85.71%, the RSI (14) reading is 65.07%. On the 9-day MACD Oscillator, the stock is at 0.09, and the 14-day reading is at 0.13.
Analyst Ratings
Eastern Bankshares Inc. (NASDAQ: EBC) was downgraded by JP Morgan to a an Underweight rating in its latest research report. The stock was previously rated as a a Neutral. Analysts have assigned Eastern Bankshares Inc. (EBC) an Hold rating. EBC is a stock that is recommended for selling by 1 brokerage firm, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is EBC’s price target for the next 12 months?
The current consensus forecast for the stock is between $14.00 and $16.50, with a median target price of $14.50. In analyzing these forecasts, the average price target given by analysts for Eastern Bankshares Inc. (EBC) is $14.88.
