Eastern Bankshares Stock Intrinsic Value – Janney Montgomery Scott LLC Reduces Stake in Eastern Bankshares,
August 2, 2023
🌥️Trending News
Janney Montgomery Scott LLC recently sold off a portion of their stake in Eastern Bankshares ($NASDAQ:EBC), Inc. at Defense World. The company provides a range of commercial banking services to individuals, corporations, and other businesses through its wholly-owned bank subsidiaries. Eastern Bankshares’ subsidiaries include Eastern Bank, which operates in Massachusetts and New Hampshire and Merrimack Valley Financial Corporation.
Additionally, Eastern Bankshares offers non-transactional services such as investment services, mortgage banking, and trust services. The company is a leader in the banking sector with a long history of success. Through its subsidiaries, the company has grown substantially to become one of the largest banks in the Northeast. Moreover, the company continues to pursue opportunities for growth and to make investments in technology and customer experience initiatives. Eastern Bankshares’ stock has been performing well in the market. Investors have responded positively to the company’s expansion efforts. The recent sale of a portion of Janney Montgomery Scott LLC’s stake in Eastern Bankshares is yet another sign that investors are confident in the company’s prospects for future growth.
Stock Price
Janney Montgomery Scott LLC recently reduced its stake in Eastern Bankshares, Inc. On Monday, Eastern Bankshares opened at $14.5 and closed at $14.1, a decrease of 3.0% from the prior closing price of $14.6. This decrease in share value can likely be attributed to Janney Montgomery Scott LLC’s decision to reduce its stake in the company. The details of the transaction have not yet been made public. It operates through its wholly-owned subsidiaries, Eastern Bank, and Eastern Insurance.
Eastern Bank is a full-service bank with branches located throughout Massachusetts, New Hampshire, and Rhode Island. Eastern Insurance is a leading provider of property and casualty insurance in New England. The company also offers a range of other services such as wealth management and commercial lending. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Eastern Bankshares. More…
| Total Revenues | Net Income | Net Margin |
| – | -48.37 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Eastern Bankshares. More…
| Operations | Investing | Financing |
| 229.94 | -1.08k | -215.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Eastern Bankshares. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 21.58k | 19.06k | – |
Key Ratios Snapshot
Some of the financial key ratios for Eastern Bankshares are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.5% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis – Eastern Bankshares Stock Intrinsic Value
GoodWhale has conducted an analysis of the fundamentals of EASTERN BANKSHARES, and based on our proprietary Valuation Line, determined the fair value of an EASTERN BANKSHARES share to be around $22.7. Currently, EASTERN BANKSHARES is traded at $14.1, representing a 38.0% discount to its fair value. This suggests that EASTERN BANKSHARES is undervalued and presents an opportunity for investors looking to add it to their portfolio. More…
Peers
City Union Bank Ltd, Taichung Commercial Bank Co Ltd, Indian Overseas Bank are some of its competitors.
– City Union Bank Ltd ($BSE:532210)
Union Bank has a market cap of 140.4B as of 2022. The company is a leading commercial bank in India that offers a wide range of banking products and services to its customers. It has a strong presence in the retail, SME, and corporate segments. Union Bank has a wide network of branches and ATMs across the country.
– Taichung Commercial Bank Co Ltd ($TWSE:2812)
As of 2022, Taichung Commercial Bank Co Ltd has a market cap of 61.62B. The company is a financial institution that provides banking and other financial services to individuals and businesses in Taiwan.
– Indian Overseas Bank ($BSE:532388)
Overseas Bank has a market cap of 390.33B as of 2022. The company provides banking and financial services to customers in India and overseas. It has a wide network of branches and ATMs, and offers a range of banking products and services to suit the needs of its customers.
Summary
Eastern BankShares, Inc. (EAS) is a bank holding company with a strong presence in the Northeast United States. Recently, Janney Montgomery Scott LLC sold off a portion of its shares in EAS. On the day of the sale, the stock price of EAS moved downward. This suggests that the market was not pleased with the news. Investors should be cautious when considering an investment in EAS because it is important to pay close attention to both company fundamentals and market sentiment. It is advisable to look into how the sale of these shares might affect the company’s financial health, as well as analyze what the market reaction could mean for the stock’s future price movements.
Additionally, investors should take a close look at other relevant news and trends to determine if the selloff was a one-time event or part of a larger trend. Finally, it is always important to make sure that any investment is aligned with an individual investor’s goals and risk tolerance.
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