Eastern Bankshares Inc reports results for the quarter ended in June - Earnings Summary

Eastern Bankshares

25/07/2024 22:49

* Eastern Bankshares Inc  EBC.OQ  reported quarterly
adjusted
earnings of 22 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 28 cents.  The mean expectation of four analysts for the
quarter was for earnings of 21 cents per share. Wall Street
expected results to range from 19 cents to 23 cents per share.
    * Revenue fell 9.1% to $128.65 million from a year ago;
analysts
expected $133.13 million. 
    * Eastern Bankshares Inc's reported EPS for the quarter was
16
cents​.
    * The company reported quarterly net income of $26.33
million.
    * Eastern Bankshares Inc shares had risen by 15.2% this
quarter and gained 13.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 19.4%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Eastern
Bankshares Inc is $16.50 
This summary was machine generated from LSEG data July 25 at
09:49 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.21           0.22           Beat
 Mar. 31 2024      0.20           0.23           Beat
 Dec. 31 2023      0.20           0.10           Missed
 Sep. 30 2023      0.28           0.32           Beat