Eastern Bankshares (NASDAQ:EBC) Issues Quarterly Earnings Results, Misses Estimates By $0.07 EPS

23 Apr 2026, 17:56 by Jessica Moore · The Cerbat Gem

Eastern Bankshares (NASDAQ:EBC – Get Free Report) released its earnings results on Thursday. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.07), FiscalAI reports. The firm had revenue of $295.90 million during the quarter, compared to analysts’ expectations of $308.68 million. Eastern Bankshares had a net margin of 8.32% and a return on equity of 8.25%.

Eastern Bankshares Trading Up 1.3%

Eastern Bankshares stock traded up $0.26 during trading on Thursday, hitting $20.51. The company’s stock had a trading volume of 2,081,964 shares, compared to its average volume of 2,079,315. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 50.03 and a beta of 0.76. The stock’s fifty day moving average is $20.00 and its 200 day moving average is $19.29. Eastern Bankshares has a 1-year low of $14.10 and a 1-year high of $22.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.91 and a current ratio of 0.91.

Analysts Set New Price Targets

EBC has been the topic of a number of recent research reports. Hovde Group initiated coverage on shares of Eastern Bankshares in a report on Monday, January 5th. They issued an “outperform” rating and a $22.50 target price on the stock. Piper Sandler assumed coverage on shares of Eastern Bankshares in a research report on Monday, March 16th. They set an “overweight” rating and a $23.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Eastern Bankshares in a research report on Friday, March 27th. Stephens assumed coverage on shares of Eastern Bankshares in a research report on Wednesday, April 15th. They set an “overweight” rating and a $24.00 target price on the stock. Finally, TD Cowen raised their target price on shares of Eastern Bankshares from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.75.

Check Out Our Latest Stock Report on Eastern Bankshares

Insider Buying and Selling

In related news, CAO David Andrew Ahlquist sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $21.65, for a total value of $216,500.00. Following the sale, the chief accounting officer directly owned 9,518 shares of the company’s stock, valued at approximately $206,064.70. This trade represents a 51.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald Michael Westermann sold 21,256 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $20.11, for a total transaction of $427,458.16. Following the completion of the sale, the insider directly owned 20,860 shares in the company, valued at $419,494.60. This represents a 50.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.26% of the company’s stock.

Institutional Trading of Eastern Bankshares

A number of institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its holdings in shares of Eastern Bankshares by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 179,379 shares of the company’s stock worth $2,739,000 after buying an additional 660 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of Eastern Bankshares by 6.0% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,102 shares of the company’s stock worth $200,000 after buying an additional 740 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Eastern Bankshares by 2.9% during the 4th quarter. Stifel Financial Corp now owns 44,197 shares of the company’s stock worth $815,000 after buying an additional 1,228 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Eastern Bankshares by 1.6% in the 4th quarter. Russell Investments Group Ltd. now owns 87,840 shares of the company’s stock valued at $1,619,000 after purchasing an additional 1,347 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Eastern Bankshares by 14.1% in the 4th quarter. Mackenzie Financial Corp now owns 13,882 shares of the company’s stock valued at $257,000 after purchasing an additional 1,714 shares in the last quarter. 71.68% of the stock is currently owned by institutional investors and hedge funds.

About Eastern Bankshares

(Get Free Report)

Eastern Bankshares, Inc is the bank holding company for Eastern Bank, one of the oldest and largest mutual banks in the United States. Founded in 1818 as Salem Savings Bank and later rebranded as Eastern Bank in 1989, the company preserved its mutual ownership structure for more than two centuries. In March 2020, it completed an initial public offering and began trading on the Nasdaq under the ticker EBC, while continuing to emphasize its community-focused heritage.