Eastern Bankshares And Cambridge Bancorp Announce Regulatory Approvals Received To Merge

5/28/24 8:44:51 AM ET

$CATC

$EBC

Major Banks

Finance

Savings Institutions

Finance

Get the next $CATC alert in real time by email

Eastern Bankshares, Inc. ("Eastern") (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, and Cambridge Bancorp (NASDAQ:CATC) ("Cambridge"), the parent company of Cambridge Trust Company, today jointly announced they have received all necessary regulatory approvals to complete their proposed merger (the "Merger"), which was previously announced on September 19, 2023. The Merger is expected to close on or about July 12, 2024.

Get the next $CATC alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$CATC
$EBC

Company	Date	Price Target	Rating	Analyst
Eastern Bankshares Inc. $EBC	8/6/2024	$14.00 → $18.50	Neutral	JP Morgan
Cambridge Bancorp $CATC	10/6/2023	$56.00 → $79.30	Mkt Perform → Outperform	Keefe Bruyette
Eastern Bankshares Inc. $EBC	9/12/2023	$16.00	Buy	Seaport Research Partners
Cambridge Bancorp $CATC	7/18/2023		Overweight → Neutral	Piper Sandler
Cambridge Bancorp $CATC	4/27/2023	$85.00 → $62.00	Outperform → Mkt Perform	Keefe Bruyette
Cambridge Bancorp $CATC	2/16/2023	$87.00	Buy → Neutral	Janney
Eastern Bankshares Inc. $EBC	1/31/2023	$19.50 → $15.00	Neutral → Underweight	JP Morgan
Eastern Bankshares Inc. $EBC	1/30/2023	$17.00	Buy → Neutral	Janney

More analyst ratings

$CATC
$EBC
Press Releases

Fastest customizable press release news feed in the world

Eastern Bank Names Kimberly Dee Executive Vice President, Consumer Banking Director
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
10/31/24 11:00:00 AM ET
$EBC
Savings Institutions
Finance
Eastern Bankshares, Inc. Reports Third Quarter 2024 Financial Results
~ 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
10/24/24 4:18:00 PM ET
$EBC
Savings Institutions
Finance
Eastern Bankshares, Inc. Announces Third Quarter 2024 Earnings Release Date, Conference Call and Webcast
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
10/3/24 10:35:00 AM ET
$EBC
Savings Institutions
Finance

$CATC
$EBC
Market Insights

Live Market Insights

How Is The Market Feeling About Eastern Bankshares?
Eastern Bankshares's (NYSE:EBC) short percent of float has risen 9.73% since its last report. The company recently reported that it has 6.30 million shares sold short, which is 3.61% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.07 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short inter
7/16/24 9:45:18 AM ET
$EBC
Savings Institutions
Finance
Vail Resorts Posts Downbeat Q3 Results, Joins Concrete Pumping, DocuSign And Other Big Stocks Moving Lower In Friday's Pre-Market Session
U.S. stock futures were slightly higher this morning, with the Dow futures gaining around 0.1% on Friday. Shares of Vail Resorts, Inc. (NYSE:MTN) fell sharply in today's pre-market trading after the company reported weaker-than-expected results for its third quarter. The company posted quarterly earnings of $9.54 per share, missing market estimates of $10.03 per share. The company’s sales came in at $1.28 billion versus expectations of $1.30 billion, according to data from Benzinga Pro. Vail Resorts shares declined 6.8% to $180.77 in pre-market trading. Here are some big stocks recording losses in today's pre-market trading session. Biomea Fusion, Inc. (NASDAQ:BMEA) shares tu
6/7/24 8:22:35 AM ET
$BBCP
$BMEA
$DOCU
$EBC
Engineering & Construction
Consumer Discretionary
Biotechnology: Pharmaceutical Preparations
Health Care
Eastern Bankshares And Cambridge Bancorp Announce Regulatory Approvals Received To Merge
Eastern Bankshares, Inc. ("Eastern") (NASDAQ Global Select Market: EBC), the stock holding company for Eastern Bank, and Cambridge Bancorp (NASDAQ:CATC) ("Cambridge"), the parent company of Cambridge Trust Company, today jointly announced they have received all necessary regulatory approvals to complete their proposed merger (the "Merger"), which was previously announced on September 19, 2023. The Merger is expected to close on or about July 12, 2024.
5/28/24 8:44:51 AM ET
$CATC
$EBC
Major Banks
Finance
Savings Institutions

$CATC
$EBC
Leadership Updates

Live Leadership Updates

Eastern Bank Names Kimberly Dee Executive Vice President, Consumer Banking Director
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
10/31/24 11:00:00 AM ET
$EBC
Savings Institutions
Finance
Eastern Bankshares, Inc. Announces Successful Merger With Cambridge Bancorp, And Names David Rosato New Chief Financial Officer
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
7/15/24 8:00:00 AM ET
$CATC
$EBC
Major Banks
Finance
Savings Institutions
Eastern Bankshares, Inc. Announces Newly Appointed Members To Its Board of Directors
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
7/1/24 8:30:00 AM ET
$CATC
$EBC
Major Banks
Finance
Savings Institutions

Eastern Bankshares, Inc. Reports Third Quarter 2024 Financial Results
~ 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
10/24/24 4:18:00 PM ET
$EBC
Savings Institutions
Finance
Eastern Bankshares, Inc. Announces Third Quarter 2024 Earnings Release Date, Conference Call and Webcast
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
10/3/24 10:35:00 AM ET
$EBC
Savings Institutions
Finance
Eastern Bankshares, Inc. Reports Second Quarter 2024 Financial Results
~ 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
7/25/24 4:15:00 PM ET
$EBC
Savings Institutions
Finance

Eastern Bankshares And Cambridge Bancorp Announce Regulatory Approvals Received To Merge

Chat with this insight

Recent Analyst Ratings for $CATC$EBC

$CATC$EBC SEC Filings

Eastern Bankshares Inc. filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

Eastern Bankshares Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits

Amendment: Eastern Bankshares Inc. filed SEC Form 8-K: Financial Statements and Exhibits

$CATC$EBC Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Director Palandjian Leon Aghababai bought $78,200 worth of shares (5,000 units at $15.64), increasing direct ownership by 6% to 91,506 units (SEC Form 4)

$CATC$EBC Press Releases

Fastest customizable press release news feed in the world

Eastern Bank Names Kimberly Dee Executive Vice President, Consumer Banking Director

Eastern Bankshares, Inc. Reports Third Quarter 2024 Financial Results

Eastern Bankshares, Inc. Announces Third Quarter 2024 Earnings Release Date, Conference Call and Webcast

$CATC$EBC Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

President Miller Quincy Lee sold $211,182 worth of shares (12,676 units at $16.66), closing all direct ownership in the company (SEC Form 4)

SEC Form 4 filed by Chief Financial Officer Rosato R David

SEC Form 4 filed by Chief Executive Officer Sheahan Denis K

$CATC$EBC Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

JP Morgan resumed coverage on Eastern Bankshares with a new price target

Cambridge Bancorp upgraded by Keefe Bruyette with a new price target

Seaport Research Partners initiated coverage on Eastern Bankshares with a new price target

$CATC$EBC Market Insights

Live Market Insights

How Is The Market Feeling About Eastern Bankshares?

Vail Resorts Posts Downbeat Q3 Results, Joins Concrete Pumping, DocuSign And Other Big Stocks Moving Lower In Friday's Pre-Market Session