Bolstered By M&A, Eastern Bankshares Still Offers Compelling Long-Term Value [Seeking Alpha]
Eastern Bankshares, Inc. (EBC)
Company Research
Source: Seeking Alpha
12min Summary Shares of Boston-based Eastern Bank have done well since my opening piece late last year, modestly outperforming peers with a ~40% total return. Earnings are still under pressure here from rising funding costs and Eastern's balance sheet positioning, though lower rates and the recently completed Cambridge deal offer strong near-term upside. These shares trade for 11.5x 2025 consensus EPS. Eastern's Boston-heavy footprint makes for a fine standalone investment case, while its excellent funding profile offers investors M&A optionality on top. Walter Bibikow/DigitalVision via Getty Images I was bullish on Eastern Bankshares, Inc. ( NASDAQ: EBC ) when I initiated coverage on this Boston-based bank stock late last year. Eastern's earnings were under pressure at the time, but with an attractive funding profile and concentrated footprint in the Greater Boston area, it looked like an excellent M&A target down the line. Like a lot of regional/community banks, these
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EBC
News
- Eastern Bank Named #1 SBA Lender in Massachusetts for the 16th Year in a Row [Yahoo! Finance]Yahoo! Finance
- Eastern Bank Named #1 SBA Lender in Massachusetts for the 16th Year in a RowBusiness Wire
- Wolters Kluwer names Eastern Bank the winner of 2024 Community Impact Award [Yahoo! Finance]Yahoo! Finance
- Wolters Kluwer names Eastern Bank the winner of 2024 Community Impact AwardBusiness Wire
- Eastern Bank Names Kimberly Dee Executive Vice President, Consumer Banking DirectorBusiness Wire
EBC
Earnings
- 10/24/24 - Miss
EBC
Sec Filings
- 11/14/24 - Form SC
- 11/14/24 - Form SC
- 11/12/24 - Form 8-K
- EBC's page on the SEC website