Eastern Bank Q3 net interest income rises on commercial loan growth

Eastern Bankshares

22/10/2026 21:24

Overview
U.S. regional bank's Q3 adjusted EPS beat analyst expectations
Company's net interest income rose, supported by commercial loan growth
Company returned $89.1 mln to shareholders, including $56.7 mln in buybacks

Outlook
Company notes commercial loan pipelines remain strong, but closings are slower amid interest rate uncertainty
Company says Wealth Management business is generating momentum, with a positive long-term outlook

Result Drivers
COMMERCIAL LENDING - Growth in commercial real estate and commercial & industrial lending drove total loan growth, though CRE payoffs remained a headwind
NET INTEREST INCOME - Higher net interest income was driven by balance sheet growth, but margin declined due to increased deposit costs
NONINTEREST INCOME DECLINE - Lower noninterest income reflected weaker equity market performance and fewer commercial loan sale gains

Company press release: ID:nBw3Rfpvsa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Adjusted EPS
Beat
$0.51
$0.49 (7 Analysts)
Q3 Net Income
 
$111 mln
 
Q3 Net Interest Income
 
$257.90 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Eastern Bankshares Inc is $24.50, about 13.9% above its October 21 closing price of $21.51
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Oct 20 - Metropolitan Bank Q3 net interest margin rises on higher yields and loan payoffs
Oct 20 - East West Bancorp Q3 revenue beats estimates on loan and deposit growth
Oct 21 - Pinnacle Financial Partners Q3 adjusted profit beats estimates on loan, fee income growth

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)