A share of Eastern Bankshares Inc. (NASDAQ:EBC) closed at $11.40 per share on Wednesday, down from $11.83 day before. While Eastern Bankshares Inc. has underperformed by -3.63%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, EBC fell by -38.91%, with highs and lows ranging from $21.54 to $9.93, whereas the simple moving average fell by -32.36% in the last 200 days.
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Analysis of Eastern Bankshares Inc. (EBC)
It’s important to note that EBC shareholders are currently getting $0.40 per share in dividends, so investors will receive a return regardless of how the company performs. Further, the quarter-over-quarter increase in sales is 43.70%, showing a positive trend in the upcoming months.
Eastern Bankshares Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -1.80% is sufficient for you to turn a profit off your investment.
For any stock, average volume can be an extremely valuable indicator of volatility, and EBC is registering an average volume of 1.33M. On a monthly basis, the volatility of the stock is set at 4.62%, whereas on a weekly basis, it is put at 3.82%, with a loss of -6.40% over the past seven days. Furthermore, long-term investors anticipate a median target price of $14.00, showing growth from the present price of $11.40, which can serve as yet another indication of whether EBC is worth investing in or should be passed over.
How Do You Analyze Eastern Bankshares Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 64.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in EBC shares?
The recent increase in stakes in EBC appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in EBC has increased by 5.27% in the first quarter. The company now owns 16,101,469 shares of the stock, with a value of $187.58 million, following the purchase of 805,616 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in EBC during the first quarter, upping its stake by 1.71%. During the last quarter, the company picked up 172,864 additional shares for a total stake of worth $119.5 million, bringing number of shares owned by the company to 10,257,545.
During the first quarter, T. Rowe Price Investment Manageme added a 4,511,256 position in EBC. Fidelity Management & Research Co purchased an additional 0.91 million shares in the last quarter, increasing its holdings by 14.36%, now holding 7.23 million shares worth $84.21 million. At the end of the first quarter, Wellington Management Co. LLP increased its EBC holdings by 6.74% and now holds 5.16 million EBC shares valued at $60.06 million with the added 0.33 million shares during the period. EBC shares are owned by institutional investors to the tune of 64.80% at present.
