Eastern Bank Q3 revenue beats estimates, AUM hits record

Eastern Bankshares

23/10/2025 21:33

Overview

Eastern Bank Q3 revenue beats analyst expectations

Company announces 5% share repurchase program

Received regulatory approvals for merger with HarborOne Bancorp, closing expected Nov 1, 2025

Outlook

Eastern Bank expects merger with HarborOne Bancorp to close on November 1, 2025

Result Drivers

COMMERCIAL LENDING - Period-end loans grew 1.3% linked qtr, driven by strong commercial lending

WEALTH MANAGEMENT - Assets under management reached record high of $9.2 bln

NET INTEREST MARGIN - Decline due to higher deposit costs and lower net discount accretion

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$241.50 mln
$205.90 mln (4 Analysts)
Q3 Net Income
$106.10 mln
Q3 Net Interest Income
$200.20 mln
Q3 Pretax Profit
$94 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "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 $22.50, about 17.4% above its October 21 closing price of $18.59

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nBwbFFQbqa

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