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
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(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.)