In its upcoming report, Eastern Bankshares, Inc. (EBC) is predicted by Wall Street analysts to post quarterly earnings of $0.49 per share, reflecting an increase of 32.4% compared to the same period last year. Revenues are forecasted to be $308.79 million, representing a year-over-year increase of 27.9%.
The current level reflects a downward revision of 0.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Eastern Bankshares metrics that are commonly monitored and projected by Wall Street analysts.
Analysts forecast 'Efficiency ratio (GAAP)' to reach 52.6%. The estimate is in contrast to the year-ago figure of 58.2%.
Analysts predict that the 'Net interest margin (FTE)' will reach 3.6%. The estimate compares to the year-ago value of 3.5%.
The average prediction of analysts places 'Average Balance - Total interest-earning assets' at $28.89 billion. The estimate is in contrast to the year-ago figure of $23.49 billion.
According to the collective judgment of analysts, 'Total Noninterest Income' should come in at $50.03 million. Compared to the current estimate, the company reported $41.30 million in the same quarter of the previous year.
Analysts expect 'Net Interest Income' to come in at $257.88 million. Compared to the present estimate, the company reported $200.20 million in the same quarter last year.
It is projected by analysts that the 'Net Interest Income (FTE)' will reach $264.14 million. Compared to the present estimate, the company reported $205.40 million in the same quarter last year.
View all Key Company Metrics for Eastern Bankshares here>>>Eastern Bankshares shares have witnessed a change of +0.5% in the past month, in contrast to the Zacks S&P 500 composite's +1% move. With a Zacks Rank #3 (Hold), EBC is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Eastern Bankshares, Inc. (EBC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).