Eastern Bankshares, Inc. Reports Third Quarter 2024 Financial Results
Eastern Bankshares, Inc. (EBC)
Company Research
Source: Business Wire
~ Company Announces a 9% Increase to Quarterly Dividend ~ BOSTON--(BUSINESS WIRE)--Eastern Bankshares, Inc. (the “Company”) (NASDAQ: EBC), the holding company of Eastern Bank, today announced its 2024 third quarter financial results.FINANCIAL HIGHLIGHTSNet loss of $6.2 million included the initial provision on non-purchased credit deteriorated (“non-PCD”) loans of $40.9 million and merger-related charges of $30.5 million. Operating net income of $49.7 million, or 0.25 per diluted share.Merger EPS accretion and cost saves on track to exceed original estimates.Net interest margin on a fully tax equivalent (“FTE”) basis of 2.97%, an increase of 0.33%, including net discount accretion from the Cambridge merger of 0.18%.Trust and investment advisory fees increased $8.2 million, or 122%, from the prior quarter to $14.9 million, due primarily to increased assets under management (“AUM”) as a result of the merger.Book value per share and tangible book value per share ended the quarter at $
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EBC
News
- Eastern Bankshares, Inc. (NASDAQ: EBC) had its price target raised by analysts at Keefe, Bruyette & Woods from $19.00 to $21.00. They now have an "outperform" rating on the stock.MarketBeat
- 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
EBC
Earnings
- 10/24/24 - Miss
EBC
Sec Filings
- 12/3/24 - Form 4
- 12/3/24 - Form 4
- 12/2/24 - Form 144
- EBC's page on the SEC website