Eastern Bankshares, Inc.
- Open
- 23.03
- Day high
- 23.17
- Day low
- 22.60
- Prev close
- 23.00
- Volume
- 2.4M
- Mkt cap
- $5.2B
- P/E (TTM)
- 12.7
- EPS (TTM)
- $1.78
- P/B
- 1.2
- P/S
- 3.7
- Yield
- 2.38%
- Per share
- $0.54
- ▼Insiders net selling -$76K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Eastern Bankshares, Inc. (EBC) is a Financial Services company listed on NASDAQ. The stock is up 41% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Eastern Bankshares, Inc. (EBC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
EBC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 24, 2026 | $0.44 | $0.40 | -9.1% | $296M | -2.0% |
| Jan 22, 2026 | $0.41 | $0.44 | +7.3% | $284M | -6.1% |
| Oct 23, 2025 | $0.40 | $0.37 | -6.9% | $240M | -2.4% |
| Jul 24, 2025 | $0.38 | $0.41 | +7.9% | $244M | -1.4% |
| Apr 24, 2025 | $0.33 | $0.34 | +3.0% | $30M | -87.0% |
| Jan 23, 2025 | $0.29 | $0.34 | +17.2% | $217M | +2.2% |
| Oct 24, 2024 | $0.33 | $0.25 | -24.8% | $203M | -8.7% |
| Jul 25, 2024 | $0.22 | $0.22 | +0.0% | $154M | -15.7% |
| Apr 25, 2024 | $0.20 | $0.23 | +15.0% | $157M | +3.9% |
| Jan 25, 2024 | $0.21 | $0.10 | -52.4% | $159M | +22.5% |
| Oct 26, 2023 | $0.28 | $0.32 | +14.3% | $156M | +11.2% |
| Jul 27, 2023 | $0.30 | $0.28 | -6.7% | $168M | +19.8% |
EBC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 7, 2026 | Borgen Luisdirector | Sell | 1,710 | $22.71 |
| Jun 30, 2026 | Borgen Luisdirector | Sell | 1,709 | $21.97 |
| May 20, 2026 | Sullivan Michael Jamesdirector | Grant | 3,883 | — |
| May 20, 2026 | Zelleke Andargachew Sdirector | Grant | 3,883 | — |
| May 20, 2026 | HARNEY MARISAdirector | Grant | 3,883 | — |
| May 20, 2026 | Bane Richard Coreydirector | Grant | 3,883 | — |
| May 20, 2026 | Palandjian Leon Aghababaidirector | Grant | 3,883 | — |
| May 20, 2026 | Harlam Bari Adirector | Grant | 3,883 | — |
| May 20, 2026 | Holbrook Richard Edwarddirector | Grant | 3,883 | — |
| May 20, 2026 | Schmidt Cathleen Agnesdirector | Grant | 3,883 | — |
| May 20, 2026 | Markell Peter Kennethdirector | Grant | 3,883 | — |
| May 20, 2026 | Hessan Dianedirector | Grant | 3,883 | — |
| May 20, 2026 | CHUNG JOSEPHdirector | Grant | 3,883 | — |
| May 20, 2026 | CASEY JOSEPH Fdirector | Grant | 3,883 | — |
| May 20, 2026 | Williams Linda Mariedirector | Grant | 3,883 | — |
Source: EBC SEC Form 4 filings, latest Jul 7, 2026. For informational purposes only — not investment advice.
See the full EBC insider & 13F page →Eastern Bankshares, Inc. company profile
Overview
Eastern Bankshares, Inc. (NASDAQ:EBC) is a regional bank holding company founded in 1818 and headquartered in Boston, Massachusetts. The company operates as the parent organization of Eastern Bank, which has grown to become one of the largest community banks serving Greater Boston and Eastern Massachusetts. Following its initial public offering in October 2020, Eastern has pursued an aggressive acquisition strategy, completing mergers with Cambridge Trust in 2024 and announcing a pending merger with HarborOne Bancorp in 2025. The combined entity will have approximately $31 billion in assets, positioning Eastern as a significant regional banking franchise in New England.
Business
Eastern Bankshares operates primarily in the regional banking industry, which involves taking deposits from consumers and businesses and lending those funds to borrowers while earning a profit on the interest rate spread. The company operates through two main business segments that generate distinct revenue streams. The Banking Business represents the core operations and generates approximately 95% of total revenue. This segment provides traditional banking services including deposit accounts (checking, savings, money market accounts, and certificates of deposit), various loan products (commercial and industrial loans, commercial real estate financing, residential mortgages, home equity lines, and consumer loans), and treasury management services. The bank also offers specialized services such as cash management, merchant services, international banking, and government banking solutions. The Insurance Agency Business historically represented a smaller portion of operations, though Eastern sold its Eastern Insurance Group subsidiary to A.J. Gallagher in 2023. The company continues to offer various insurance products through partnerships. Additionally, Eastern operates a significant Wealth Management division that manages over $8.3 billion in assets under management and $8.8 billion in assets under administration. This division provides investment management, financial planning, portfolio management, private banking, and fiduciary services primarily to high-net-worth individuals and institutional clients. The wealth management business has been significantly expanded through acquisitions, particularly the Cambridge Trust merger, making Eastern the largest bank-owned investment advisory firm in Massachusetts. The bank operates through 105 branch offices across eastern Massachusetts and southern New Hampshire, plus 25 non-branch offices, maintaining the number one deposit market share in the Boston Metropolitan Statistical Area.
Revenue model
Eastern Bankshares generates revenue primarily through the traditional banking model of net interest income - the difference between interest earned on loans and investments and interest paid on deposits and borrowings. This represents the majority of the bank's revenue, with net interest income of $607.6 million in 2024, up 10% from the previous year. The bank's customers are primarily retail consumers, small businesses, and commercial enterprises in the Greater Boston area who pay interest on loans and may pay fees for various banking services. The company also generates non-interest income through several channels: wealth management fees from managing client assets, deposit service charges, loan origination fees, merchant services income, and other banking fees. The wealth management division has become increasingly important, with assets under management exceeding $8.3 billion generating recurring fee income. Several factors significantly impact Eastern's profitability margins. Interest rate environment is the most critical factor - rising rates generally benefit banks by allowing them to charge higher loan rates faster than deposit costs increase, expanding net interest margins. However, Eastern's margin compressed in recent periods due to competitive deposit pricing pressures. Credit quality directly affects profitability through loan loss provisions, with the bank maintaining particular focus on its $914 million office real estate portfolio given market concerns. Deposit competition from larger banks and online institutions pressures funding costs, while regulatory capital requirements limit leverage and returns. The bank's efficiency ratio of 53.7% indicates reasonable cost management, though merger integration costs and competitive pressures on both loan pricing and deposit costs continue to challenge margin expansion. Economic conditions in the Greater Boston market, where Eastern maintains concentrated exposure, also significantly influence loan demand and credit performance.
Competitive moat
Eastern Bankshares possesses a moderate regional moat built primarily on local market relationships and geographic concentration, though this moat faces meaningful competitive pressures. The bank's strongest competitive advantage lies in its dominant market position in Greater Boston, where it maintains the number one deposit market share and has operated for over 200 years. This long-standing presence has created deep community relationships, local brand recognition, and switching costs for business customers who rely on Eastern for complex commercial banking relationships. The bank's wealth management franchise provides another defensive moat element, as the sticky nature of investment advisory relationships and the expertise required to serve high-net-worth clients creates barriers to customer defection. With over $8.3 billion in assets under management, this business generates recurring fee income that is less sensitive to interest rate cycles than traditional banking. However, Eastern's moat faces significant challenges. Large national banks like Bank of America and JPMorgan Chase have substantial resources to compete on pricing and technology, while offering customers broader geographic reach and more sophisticated digital platforms. Online banks can offer higher deposit rates without the overhead of physical branches, pressuring Eastern's funding costs. Fintech companies are increasingly providing business banking services, payment processing, and lending solutions that can disintermediate traditional bank relationships. The bank's geographic concentration in Greater Boston, while providing local expertise, also creates vulnerability to regional economic downturns and limits diversification opportunities. Additionally, Eastern's relatively modest scale compared to larger regional banks may limit its ability to invest in technology and compete on pricing. The pending merger with HarborOne Bancorp should strengthen the combined entity's scale and market position, but the integration risks and competitive landscape suggest Eastern's moat, while meaningful, is not particularly wide or durable against well-funded competition.
Risks & safety
Eastern Bankshares demonstrates a strong margin of safety from a balance sheet perspective, though profitability metrics show some pressure from the competitive environment. **Liquidity and Solvency:** • Cash position: $1.0 billion in cash and short-term investments provides substantial liquidity buffer • Capital ratios: CET1 ratio of 15.7% well above regulatory minimums, indicating strong solvency • Debt levels: Minimal debt with debt-to-equity ratio of 1.3%, primarily consisting of operational liabilities rather than financial leverage **Valuation Metrics:** • Price-to-book ratio: 0.87x suggests trading below tangible book value • Price-to-earnings: 26.1x based on 2024 earnings, elevated but reasonable for a growing regional bank • Return metrics: Operating ROE of 11.7% and ROA of 1.09% indicate reasonable profitability levels **Other Considerations:** • Asset quality concerns in $914 million office real estate portfolio with 8% reserves • Deposit mix includes some rate-sensitive wholesale funding requiring active management • Merger integration risks with HarborOne transaction pending regulatory approval
Recent development
Eastern Bankshares has undergone significant strategic transformation over the past few years, transitioning from a mutual bank to a publicly-traded growth-oriented institution. The most significant development was the completion of the Cambridge Trust merger in July 2024, which added $3.9 billion in loans, $3.7 billion in deposits, and substantially expanded Eastern's wealth management capabilities to over $8.3 billion in assets under management. This transaction established Eastern as the largest bank-owned investment advisory firm in Massachusetts and strengthened its market position. In early 2025, Eastern announced another major strategic move with the pending merger with HarborOne Bancorp, a $5.7 billion bank that will create a combined entity with $31 billion in assets. Management expects this merger to provide 16% earnings per share accretion, $55 million in annual cost savings, and a tangible book value earn-back period of 2.8 years. The transaction expands Eastern's geographic footprint and market presence in Boston and Rhode Island. The bank has also made strategic portfolio adjustments, including a $1.2 billion securities portfolio repositioning in 2024, selling low-yielding securities averaging 1.82% yields and reinvesting at 4.75-5% yields to improve net interest income by approximately $35 million annually. Eastern divested its insurance agency business by selling Eastern Insurance Group to A.J. Gallagher, allowing management to focus on core banking and wealth management operations. Operationally, Eastern has invested in expanding its commercial lending capabilities by hiring experienced franchise lenders and building specialized lending teams. The bank has also upgraded its digital banking platform and successfully integrated the Cambridge Trust systems. Throughout this growth phase, Eastern has maintained its community banking focus, continuing its recognition as the number one SBA lender in Massachusetts for 16 consecutive years.
EBC company profile · for informational purposes only — not investment advice.
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