Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Eastern Bankshares (EBC)
NASDAQ:EBC
Holding EBC?
Track your performance easily
Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.31Last Year’s EPS
0.23Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Apr 29, 2021
|% Change Since: 3.12%
|Next Earnings Date:Jan 29, 2021
Earnings Call Sentiment|Positive
The earnings call was largely positive, highlighting the successful merger with Cambridge Trust, strong financial performance, and strategic growth initiatives. However, there were concerns regarding elevated charge-offs and the investor office loan portfolio.Company Guidance
During Eastern Bankshares Inc.'s fourth quarter 2024 earnings call, the executive team provided comprehensive guidance on the company's financial outlook. Key metrics included a full-year operating net income of $192.6 million, marking an 18% increase from 2023, and net interest income of $607.6 million, up by 10% year-over-year. The company reported a 12 basis point expansion in net interest margin and a loan-to-deposit ratio of 85%. Period-end loans surged by 29%, fueled by the Cambridge Trust merger and organic growth, while deposits rose by 21%. Eastern Bankshares also executed a $1.2 billion investment portfolio repositioning, expected to be $0.13 accretive to 2025 operating EPS. Their 2025 outlook anticipates modest growth, with loans and deposits projected to increase by 2%-4% and 1%-2%, respectively. The company expects net interest income to range from $815 million to $840 million, with a net interest margin of 3.45%-3.55%. Additionally, Eastern Bankshares aims to maintain strong capital and liquidity levels, as evidenced by a CET1 ratio of 15.7%.Merger with Cambridge Trust
The merger with Cambridge Trust solidified Eastern Bankshares' position as the largest commercial bank headquartered in Greater Boston, providing broader offerings and growth opportunities.
Strong Financial Performance
Full year operating net income increased by 18% to $192.6 million, and net interest income rose by 10% to $607.6 million compared to 2023. Net interest margin expanded by 12 basis points.
Growth in Loans and Deposits
Period-end loans increased by 29% year-over-year, with a 21% rise in deposits. The loan-to-deposit ratio stands at 85%.
Wealth Management Expansion
The wealth management business reported a 13% increase in fees linked quarter, with assets under management at $8.3 billion and assets under administration at $8.8 billion.
Investment Portfolio Repositioning
Announced a $1.2 billion repositioning of the investment portfolio, expected to be $0.13 accretive to operating EPS in 2025.
---
EBC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
EBC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $17.60 | $17.85 | +1.42% |
| Oct 24, 2024 | $16.61 | $15.82 | -4.76% |
| Jul 25, 2024 | $16.11 | $16.66 | +3.41% |
| Apr 25, 2024 | $12.67 | $12.77 | +0.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Eastern Bankshares (EBC) report earnings?
Eastern Bankshares (EBC) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is Eastern Bankshares (EBC) earnings time?
Eastern Bankshares (EBC) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EBC EPS forecast?
EBC EPS forecast for the fiscal quarter 2025 (Q1) is 0.31.
---