As of Wednesday close, Eastern Bankshares Inc.’s (NASDAQ:EBC) stock was down -$0.79, moving down -5.88 percent to $12.64. The average number of shares traded per day over the past five days has been 2,099,960 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.66 fall in that time frame. In the last twenty days, the average volume was 946,190, while in the previous 50 days, it was 782,800.
Since last month, EBC stock retreated -5.81%. Shares of the company fell to $12.03 on 09/20/23, the lowest level in the past month. A 52-week high of $21.54 was reached on 01/06/23 after having rallying from a 52-week low of $9.93. Since the beginning of this year, EBC’s stock price has dropped by -26.72% or -$4.61, and marked a new high 4 times. However, the stock has declined by -41.32% since its 52-week high.
EBC stock investors should be aware that Eastern Bankshares Inc. (EBC) stock had its last reported insider trading activity 129 days ago on May 15. Jackson Deborah C, the Director of the company, disposed of 1,320 shares for $11.21 on May 15. It resulted in a $14,797 divestment by the insider. Harlam Bari A sold 1,150 shares at an average price of $11.21 on May 15. The insider now owns 76,097 shares following the transaction. On Nov 30, Director Borgen Luis sold 12,419 shares at $19.21 apiece. The transaction was valued at $238,569.
Valuation Metrics
The stock’s beta is 0.77. Besides these, the trailing price-to-sales (P/S) ratio of 3.07, the price-to-book (PB) ratio of 0.81, and the price-to-cash flow ratio of 9.60 may also be considered.
The latest dividend of $0.10 per share was paid out, remained unchanged from last year’s $0.10. On Thursday January 27 2022, a $0.02 dividend increase was announced.
Financial Health
In the year ended June 29, operating margins totaled 77.00%. Based on annual data, EBC earned $568.05 million in gross profit and brought in $605.18 million in revenue.
In Eastern Bankshares Inc.’s quarter-end financial report for June 29, it reported total debt of $351.21 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Eastern Bankshares Inc. to report $0.3 quarterly earnings, the actual figure was $0.28 per share, beating the consensus estimate by -6.70%. The value of shareholders’ equity is $176.38 million.
Technical Picture
This quick technical analysis looks at Eastern Bankshares Inc.’s (EBC) price momentum. With a historical volatility rate of 36.98%, the RSI 9-day stood at 30.31% on 20 September.
With respect to its five-day moving average, the current Eastern Bankshares Inc. price is down by -4.96% percent or -$0.66. At present, EBC shares trade -3.66% below its 20-day simple moving average and +11.86% percent above its 100-day simple moving average. However, the stock is currently trading approximately +0.16% above its SMA50 and -34.71% below its SMA200.
Stochastic coefficient K was 34.76% and Stochastic coefficient D was 44.26%, while ATR was 0.49. Given the Stochastic reading of 28.64% for the 14-day period, the RSI (14) reading has been calculated as 35.83%. As of today, the MACD Oscillator reading stands at -0.14, while the 14-day reading stands at -0.22.
Analyst Ratings
Seaport Research Partners launched its rating on Eastern Bankshares Inc. (NASDAQ: EBC) to a Buy in a note to investors on September 12, 2023. Eastern Bankshares Inc. (EBC) has been rated Overweight by analysts. According to 0 brokerage firms, EBC is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Eastern Bankshares Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $16.50, the current consensus forecast for the stock is $13.00 – $17.00. Based on these forecasts, analysts predict Eastern Bankshares Inc. (EBC) will achieve an average price target of $15.75.
