Tiger Brokers

BUZZ-Eastern Bankshares rises after Hovde starts coverage at 'outperform'

Reuters
Jan 05
BUZZ-Eastern Bankshares rises after Hovde starts coverage at 'outperform'

** Regional lender Eastern Bankshares' EBC.O shares rise 2.5% to $19 premarket

** Hovde Group starts coverage of EBC at "outperform" rating and assigns $22.50 PT, a 21.4% upside to stock's last close

** Brokerage says fundamental outperformance combined with EBC's strong position in the Massachusetts market should result in valuation in line with high-performing banks in the U.S.

** With Boston's household income growth still projected to outpace the national average, Hovde sees great opportunity for deposit growth at EBC in 2026 and beyond

** Hovde also expects EBC's wealth management business to post continued growth as cross-sell opportunities abound within recently acquired HarborOne Bancorp's footprint

** EBC stock rose 1.5% in 2025

(Reporting by Arasu Kannagi Basil in Bengaluru)

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

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10