Eastern Bankshares climbs after activist investor HoldCo builds stake

M&T Bank

17/10/2025 14:15

** Regional lender Eastern Bankshares' EBC.O shares jump ~5% to $18.04 premarket

** Activist investor HoldCo Asset Management has built a sizable position in EBC, Reuters reports, citing people familiar with the matter and documents

** HoldCo, which built its 3% stake in EBC in recent months, is pressing for a sale, possibly to larger neighbor M&T Bank MTB.N

** Move comes weeks after HoldCo played a role in an $11 billion deal where Fifth Third will buy Comerica, having pushed Comerica for months to sell itself

** 4 of 5 brokerages rate the stock "buy" or higher and 1 "hold"; median PT $22 - data compiled by LSEG

** As of last close, EBC stock flat YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))