Seaport Res Ptn Issues Pessimistic Estimate for EBC Earnings

Eastern Bankshares, Inc. (NASDAQ:EBC) – Seaport Res Ptn cut their Q4 2026 EPS estimates for Eastern Bankshares in a research report issued on Monday, November 3rd. Seaport Res Ptn analyst L. Hunsicker now anticipates that the company will post earnings of $0.49 per share for the quarter, down from their prior estimate of $0.53. The consensus estimate for Eastern Bankshares’ current full-year earnings is $1.49 per share. Seaport Res Ptn also issued estimates for Eastern Bankshares’ Q1 2027 earnings at $0.50 EPS, Q2 2027 earnings at $0.52 EPS, Q3 2027 earnings at $0.53 EPS and FY2027 earnings at $2.09 EPS.

Eastern Bankshares (NASDAQ:EBC) last posted its earnings results on Tuesday, November 12th. The company reported $0.32 earnings per share for the quarter. The company had revenue of $162.26 million for the quarter. Eastern Bankshares had a net margin of 4.97% and a return on equity of 8.04%.

Other research analysts have also issued reports about the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Eastern Bankshares in a report on Wednesday, October 8th. TD Cowen started coverage on Eastern Bankshares in a report on Thursday, September 25th. They set a “buy” rating and a $23.00 price objective on the stock. Finally, Cowen assumed coverage on Eastern Bankshares in a research note on Wednesday, September 24th. They set a “buy” rating for the company. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Eastern Bankshares Price Performance

EBC opened at $17.28 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.01. Eastern Bankshares has a 12 month low of $13.51 and a 12 month high of $19.40. The company has a fifty day simple moving average of $17.78 and a 200 day simple moving average of $16.22. The stock has a market cap of $3.65 billion, a P/E ratio of 69.12 and a beta of 0.95.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its holdings in Eastern Bankshares by 789.9% during the first quarter. Jane Street Group LLC now owns 545,589 shares of the company’s stock worth $8,948,000 after buying an additional 484,277 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Eastern Bankshares in the 1st quarter valued at about $277,000. Jupiter Asset Management Ltd. bought a new position in shares of Eastern Bankshares in the 1st quarter valued at about $3,717,000. GAMMA Investing LLC increased its stake in shares of Eastern Bankshares by 92.1% during the 1st quarter. GAMMA Investing LLC now owns 1,815 shares of the company’s stock worth $30,000 after purchasing an additional 870 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Eastern Bankshares by 36.2% in the 1st quarter. Intech Investment Management LLC now owns 109,369 shares of the company’s stock valued at $1,794,000 after purchasing an additional 29,058 shares during the period. Institutional investors own 71.68% of the company’s stock.

Insider Activity at Eastern Bankshares

In other news, President Quincy Lee Miller bought 13,706 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were purchased at an average price of $17.07 per share, for a total transaction of $233,961.42. Following the purchase, the president owned 13,706 shares of the company’s stock, valued at approximately $233,961.42. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO R David Rosato purchased 10,000 shares of Eastern Bankshares stock in a transaction on Tuesday, October 28th. The shares were purchased at an average cost of $17.08 per share, with a total value of $170,800.00. Following the transaction, the chief financial officer owned 30,000 shares in the company, valued at approximately $512,400. The trade was a 50.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 73,706 shares of company stock valued at $1,265,261. 1.10% of the stock is owned by insiders.

Eastern Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.0%. Eastern Bankshares’s dividend payout ratio (DPR) is presently 208.00%.

About Eastern Bankshares

Eastern Bankshares, Inc operates as the bank holding company for Eastern Bank that provides banking products and services primarily to retail, commercial, and small business customers. The company provides deposit accounts, interest checking accounts, money market accounts, savings accounts, and time certificates of deposit accounts.