Eastern Bankshares, Inc. operates as the bank holding company for Eastern Bank that provides commercial banking products and services primarily to retail, commercial, and small business customers. It operates in two segments, Banking Business and Insurance Agency Business. The company provides interest-bearing and non interest-bearing checking deposits, money market deposits, savings deposits, and certificates of deposits, as well as debit and credit cards. It also offers commercial and industrial loans, commercial real estate and construction loans, business banking loans, residential real estate loans, and home equity and other consumer loans, as well as mortgage and personal loans, auto loans, preferred term loans, small business administration loans, and reserve lines of credit. In addition, the company provides cash reserves, cash management, merchant, escrow express, government banking, international banking, interest on lawyers trust accounts, pension planning, and business telephone banking services, as well as products and services for not-for-profit and healthcare. Further, it offers trust and investment products and services; community development and asset-based lending services; financial planning, portfolio management, wealth management, private banking, and fiduciary products; and electronic banking and foreign exchange services, as well as various insurance products. As of April 1, 2021, the company had approximately 110 locations in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. Eastern Bankshares, Inc. was founded in 1818 and is headquartered in Boston, Massachusetts.
IPO Year: 2020
Exchange: NASDAQ
Website: easternbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/6/2024 | $14.00 → $18.50 | Neutral | JP Morgan |
| 9/12/2023 | $16.00 | Buy | Seaport Research Partners |
| 1/31/2023 | $19.50 → $15.00 | Neutral → Underweight | JP Morgan |
| 1/30/2023 | $17.00 | Buy → Neutral | Janney |
| 11/16/2021 | $25.00 | Overweight | Piper Sandler |
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4 - Eastern Bankshares, Inc. (0001810546) (Issuer)
Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company's fourth quarter 2024 results: Earnings Release: Thursday, January 23, 2025 after the market close Conference Call: Friday, January 24, 2025 at 9:00 AM Eastern Time Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 65981 Webcast: The conference call will be simultaneously webcast. Participants may join the webcast on the Company's Inve
Eastern Bank, Greater Boston's leading local bank, is pleased to announce that Kimberly Dee, a highly accomplished retail, customer transformation and business banking executive, has been named Executive Vice President, Consumer Banking Director. She will also serve on the Bank's Management Committee, comprised of Eastern's most senior executives. Dee most recently served as Executive Vice President and Head of the Retail Branch Network of Citizens Financial Group, where she was a member of its Executive Leadership Group. "Delivering a truly differentiated, personalized customer experience across a full range of banking and wealth management solutions is central to Eastern's focus as Great
~ Company Announces a 9% Increase to Quarterly Dividend ~ Eastern Bankshares, Inc. (the "Company") (NASDAQ:EBC), the holding company of Eastern Bank, today announced its 2024 third quarter financial results. FINANCIAL HIGHLIGHTS Net 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 merg
Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company's third quarter 2024 results: Earnings Release: Thursday, October 24, 2024 after the market close Conference Call: Friday, October 25, 2024 at 9:00 AM Eastern Time Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 35193 Webcast: The conference call will be simultaneously webcast. Participants may join the webcast on the Company's Investor Relations website at investor.easternbank.com. A replay
~ Company Announces Authorization of Share Repurchase Program ~ Eastern Bankshares, Inc. (the "Company," or together with its subsidiaries, "Eastern") (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2024 second quarter financial results, the declaration of a quarterly cash dividend, and the authorization of a share repurchase program. On July 12, 2024, the Company completed its merger ("the merger") with Cambridge Bancorp ("Cambridge") and surpassed $25 billion in assets. The merger also added approximately $4.8 billion in assets under management and administration ("AUM/A"), 11 net new branch locations, and 4 net new wealth management
Eastern Bank Surpasses $25 Billion In Assets Eastern Bankshares, Inc. ("Eastern") (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, today announced the closing of its merger with Cambridge Bancorp (NASDAQ:CATC) ("Cambridge"), the parent company of Cambridge Trust Company (the "Merger"). The all-stock transaction was originally announced on September 19, 2023. "We are excited to have successfully completed Eastern's merger with Cambridge Trust and in doing so, to strategically solidify Eastern's position as Greater Boston's leading local bank and Cambridge Trust Wealth Management as the largest bank-owned independent investment advisor in Massachusetts," sai
Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company's second quarter 2024 results: Earnings Release: Thursday, July 25, 2024 after the market close Conference Call: Friday, July 26, 2024 at 9:00 AM Eastern Time Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 26729 Webcast: The conference call will be simultaneously webcast. Participants may join the webcast o
Eastern Bankshares, Inc. ("Eastern") (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, announced today the appointment of four members of Cambridge Bancorp's (NASDAQ:CATC) ("Cambridge") Board of Directors to the Eastern and Eastern Bank Boards of Directors (together, the "Eastern Boards of Directors" or the "Eastern Boards") effective upon the closing of the companies' pending Merger (the "Merger"). As previously announced on September 19, 2023, upon closing of the Merger, Denis Sheahan, Chairman, President and CEO of Cambridge, will become the CEO of Eastern and will join the Eastern Boards of Directors, and three Cambridge directors will be appointed to the
~ Receipt of Shareholder Approvals for the Merger with Cambridge ~ ~ CFO James Fitzgerald Announces Upcoming Retirement ~ Eastern Bankshares, Inc. (the "Company," or together with its subsidiaries, "Eastern") (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2024 first quarter financial results and the declaration of a quarterly cash dividend. On February 28, 2024, the Company and Cambridge Bancorp ("Cambridge") each received shareholder approval for the previously announced all-stock merger of Cambridge with and into Eastern ("the merger"). The merger is anticipated to close early in the third quarter of 2024, subject to receipt of regul
Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company's first quarter 2024 results: Earnings Release: Thursday, April 25, 2024 after the market close Conference Call: Friday, April 26, 2024 at 9:00 AM Eastern Time Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 46521 Webcast: The conference call will be simultaneously webcast. Participants may join the webcast on the Company's Investor Relation
Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company's fourth quarter 2024 results: Earnings Release: Thursday, January 23, 2025 after the market close Conference Call: Friday, January 24, 2025 at 9:00 AM Eastern Time Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 65981 Webcast: The conference call will be simultaneously webcast. Participants may join the webcast on the Company's Inve
~ Company Announces a 9% Increase to Quarterly Dividend ~ Eastern Bankshares, Inc. (the "Company") (NASDAQ:EBC), the holding company of Eastern Bank, today announced its 2024 third quarter financial results. FINANCIAL HIGHLIGHTS Net 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 merg
Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company's third quarter 2024 results: Earnings Release: Thursday, October 24, 2024 after the market close Conference Call: Friday, October 25, 2024 at 9:00 AM Eastern Time Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 35193 Webcast: The conference call will be simultaneously webcast. Participants may join the webcast on the Company's Investor Relations website at investor.easternbank.com. A replay
~ Company Announces Authorization of Share Repurchase Program ~ Eastern Bankshares, Inc. (the "Company," or together with its subsidiaries, "Eastern") (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2024 second quarter financial results, the declaration of a quarterly cash dividend, and the authorization of a share repurchase program. On July 12, 2024, the Company completed its merger ("the merger") with Cambridge Bancorp ("Cambridge") and surpassed $25 billion in assets. The merger also added approximately $4.8 billion in assets under management and administration ("AUM/A"), 11 net new branch locations, and 4 net new wealth management
Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company's second quarter 2024 results: Earnings Release: Thursday, July 25, 2024 after the market close Conference Call: Friday, July 26, 2024 at 9:00 AM Eastern Time Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 26729 Webcast: The conference call will be simultaneously webcast. Participants may join the webcast o
~ Receipt of Shareholder Approvals for the Merger with Cambridge ~ ~ CFO James Fitzgerald Announces Upcoming Retirement ~ Eastern Bankshares, Inc. (the "Company," or together with its subsidiaries, "Eastern") (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2024 first quarter financial results and the declaration of a quarterly cash dividend. On February 28, 2024, the Company and Cambridge Bancorp ("Cambridge") each received shareholder approval for the previously announced all-stock merger of Cambridge with and into Eastern ("the merger"). The merger is anticipated to close early in the third quarter of 2024, subject to receipt of regul
Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company's first quarter 2024 results: Earnings Release: Thursday, April 25, 2024 after the market close Conference Call: Friday, April 26, 2024 at 9:00 AM Eastern Time Join by Telephone: Toll-Free Dial-In Number: (800) 549-8228 Conference ID: 46521 Webcast: The conference call will be simultaneously webcast. Participants may join the webcast on the Company's Investor Relation
~ Earnings, Capital, and Liquidity Enhancements Resulting from Eastern Insurance Group LLC Asset Sale ~ ~ Growth in Core Deposits and Reduction in Wholesale Funding ~ Eastern Bankshares, Inc. (the "Company," or together with its subsidiaries, "Eastern") (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2023 fourth quarter financial results and the declaration of a quarterly cash dividend. On October 31, 2023, the Company completed the sale of the insurance operations of Eastern Insurance Group, LLC ("Eastern Insurance"), to Arthur J. Gallagher & Co. ("Gallagher") for gross consideration of $515 million ("the insurance transaction"). The c
Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), a Massachusetts corporation and the stock holding company for Eastern Bank, today announced the following details regarding the report of the Company's fourth quarter 2023 results: Earnings Release: Thursday, January 25, 2024 after the market close Conference Call: Friday, January 26, 2024 at 9:00 AM Eastern Time Join by Telephone: Toll-Free Dial-In Number: (888) 259-6580 Conference ID: 61093108 Webcast: The conference call will be simultaneously webcast. Participants may join the webcast on the
~ Company Announces a 10% Increase to Quarterly Dividend ~ Eastern Bankshares, Inc. (the "Company," or together with its subsidiaries, "Eastern") (NASDAQ Global Select Market: EBC), the stock holding company of Eastern Bank, today announced its 2023 third quarter financial results and the declaration of a quarterly cash dividend of $0.11 per share, representing a $0.01, or 10%, increase from the most recent quarterly dividend. The release of the Company's quarterly financial results follows its September 19, 2023 announcement of the sale of the insurance operations of Eastern Insurance Group, LLC ("Eastern Insurance") ("the insurance transaction") and the pending merger with Cambridge B
Eastern Bank, Greater Boston's leading local bank, is pleased to announce that Kimberly Dee, a highly accomplished retail, customer transformation and business banking executive, has been named Executive Vice President, Consumer Banking Director. She will also serve on the Bank's Management Committee, comprised of Eastern's most senior executives. Dee most recently served as Executive Vice President and Head of the Retail Branch Network of Citizens Financial Group, where she was a member of its Executive Leadership Group. "Delivering a truly differentiated, personalized customer experience across a full range of banking and wealth management solutions is central to Eastern's focus as Great
Eastern Bank Surpasses $25 Billion In Assets Eastern Bankshares, Inc. ("Eastern") (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, today announced the closing of its merger with Cambridge Bancorp (NASDAQ:CATC) ("Cambridge"), the parent company of Cambridge Trust Company (the "Merger"). The all-stock transaction was originally announced on September 19, 2023. "We are excited to have successfully completed Eastern's merger with Cambridge Trust and in doing so, to strategically solidify Eastern's position as Greater Boston's leading local bank and Cambridge Trust Wealth Management as the largest bank-owned independent investment advisor in Massachusetts," sai
Eastern Bankshares, Inc. ("Eastern") (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, announced today the appointment of four members of Cambridge Bancorp's (NASDAQ:CATC) ("Cambridge") Board of Directors to the Eastern and Eastern Bank Boards of Directors (together, the "Eastern Boards of Directors" or the "Eastern Boards") effective upon the closing of the companies' pending Merger (the "Merger"). As previously announced on September 19, 2023, upon closing of the Merger, Denis Sheahan, Chairman, President and CEO of Cambridge, will become the CEO of Eastern and will join the Eastern Boards of Directors, and three Cambridge directors will be appointed to the
New Directors Bring Extensive Banking, Risk Management and Audit Experience Eastern Bankshares, Inc. (the "Company") (Nasdaq Global Select Market: EBC), the stock holding company for Eastern Bank, announced today the appointment of Marisa J. Harney and Linda M. Williams to its Board of Directors effective immediately. They have also each been appointed to the Audit and Risk Management Committees of the Board effective January 1, 2024. They will also serve on the Board of Directors of the Company's banking subsidiary, Eastern Bank. "We are extremely pleased to welcome Marisa Harney and Linda Williams to our Board," said Bob Rivers, Chief Executive Officer and Chair of the Board of Easter
JP Morgan resumed coverage of Eastern Bankshares with a rating of Neutral and set a new price target of $18.50 from $14.00 previously
Seaport Research Partners initiated coverage of Eastern Bankshares with a rating of Buy and set a new price target of $16.00
JP Morgan downgraded Eastern Bankshares from Neutral to Underweight and set a new price target of $15.00 from $19.50 previously
Janney downgraded Eastern Bankshares from Buy to Neutral and set a new price target of $17.00
Piper Sandler initiated coverage of Eastern Bankshares with a rating of Overweight and set a new price target of $25.00
Seaport Global Securities initiated coverage of Eastern Bankshares with a rating of Buy and set a new price target of $19.00
Seaport Global Securities initiated coverage of Eastern Bankshares with a rating of Buy
Seaport Global initiated coverage of Eastern Bankshares with a rating of Buy and set a new price target of $19.00
8-K - Eastern Bankshares, Inc. (0001810546) (Filer)
144 - Eastern Bankshares, Inc. (0001810546) (Subject)
144 - Eastern Bankshares, Inc. (0001810546) (Subject)
8-K - Eastern Bankshares, Inc. (0001810546) (Filer)
8-K - Eastern Bankshares, Inc. (0001810546) (Filer)
8-K/A - Eastern Bankshares, Inc. (0001810546) (Filer)
10-Q - Eastern Bankshares, Inc. (0001810546) (Filer)
8-K - Eastern Bankshares, Inc. (0001810546) (Filer)
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8-K - Eastern Bankshares, Inc. (0001810546) (Filer)
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