Eastern Bankshares (EBC)
Market Price (12/4/2025): $18.81 | Market Cap: $3.7 BilSector: Financials | Industry: Regional Banks
Eastern Bankshares (EBC)
Market Price (12/4/2025): $18.81Market Cap: $3.7 BilSector: FinancialsIndustry: Regional Banks
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% | Trading close to highsDist 52W High is -1.3%, Dist 3Y High is -1.3% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 73x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 61% | Weak multi-year price returns3Y Excs Rtn is -64% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.0% |
| Attractive yieldDividend Yield is 2.8%, FCF Yield is 11% | Moderate capital ratioTier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 11% | |
| Low stock price volatilityVol 12M is 33% | ||
| Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 29% | ||
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 61% |
| Attractive yieldDividend Yield is 2.8%, FCF Yield is 11% |
| Low stock price volatilityVol 12M is 33% |
| Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 29% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, Digital Payments, and Wealth Management Technology. |
| Trading close to highsDist 52W High is -1.3%, Dist 3Y High is -1.3% |
| Weak multi-year price returns3Y Excs Rtn is -64% |
| Moderate capital ratioTier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 11% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 73x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.0% |
Valuation, Metrics & Events
EBC Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Here are five key points explaining the approximate 11.6% stock movement for Eastern Bankshares (EBC) from August 31, 2025, to December 4, 2025:
1. Completion of Merger with HarborOne Bancorp.
Eastern Bankshares successfully completed its acquisition of HarborOne Bancorp, Inc. on November 1, 2025, after receiving all necessary regulatory approvals. This strategic move likely bolstered investor confidence in Eastern Bankshares' growth prospects and market position.
2. Positive Analyst Coverage and Price Targets.
During this period, Eastern Bankshares received new positive analyst coverage, with TD Cowen initiating a "buy" rating and a $23.00 price objective on September 25, 2025. The company held a consensus rating of "Moderate Buy" or "Strong Buy" from analysts, with an average target price around $21.50 or $22.19, suggesting significant upside potential.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| EBC Return | - | 26% | -13% | -15% | 25% | 10% | 28% |
| Peers Return | -16% | 28% | 0% | 1% | 16% | 5% | 33% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| EBC Win Rate | 100% | 67% | 50% | 33% | 50% | 60% | |
| Peers Win Rate | 43% | 67% | 52% | 45% | 50% | 50% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| EBC Max Drawdown | - | -3% | -15% | -39% | -13% | -17% | |
| Peers Max Drawdown | -51% | -0% | -18% | -43% | -14% | -18% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: ABCB, ASB, FULT, FHB, BOH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)
How Low Can It Go
| Event | EBC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -54.1% | -25.4% |
| % Gain to Breakeven | 117.9% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -4.4% | -33.9% |
| % Gain to Breakeven | 4.6% | 51.3% |
| Time to Breakeven | 12 days | 148 days |
Compare to ABCB, ASB, FULT, FHB, BOH
In The Past
Eastern Bankshares's stock fell -54.1% during the 2022 Inflation Shock from a high on 5/24/2021. A -54.1% loss requires a 117.9% gain to breakeven.
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Asset Allocation
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Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select past ideas related to EBC. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.4% | 3.4% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 9.5% | 9.5% | 0.0% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.1% | 0.1% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.1% | -0.1% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.7% | -7.7% | -11.0% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | WU | Western Union | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.4% | 3.4% | -0.4% |
| 11212025 | COIN | Coinbase Global | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 9.5% | 9.5% | 0.0% |
| 11142025 | PYPL | PayPal | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.1% | 0.1% | -7.5% |
| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.1% | -0.1% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -7.7% | -7.7% | -11.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Eastern Bankshares
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 25.57 |
| Mkt Cap | 3.6 |
| Rev LTM | 981 |
| Op Inc LTM | - |
| FCF LTM | 350 |
| FCF 3Y Avg | 299 |
| CFO LTM | 379 |
| CFO 3Y Avg | 320 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.6% |
| Rev Chg 3Y Avg | 4.1% |
| Rev Chg Q | 11.6% |
| QoQ Delta Rev Chg LTM | 2.8% |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 39.1% |
| CFO/Rev 3Y Avg | 34.2% |
| FCF/Rev LTM | 35.9% |
| FCF/Rev 3Y Avg | 31.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.6 |
| P/S | 3.8 |
| P/EBIT | - |
| P/E | 13.4 |
| P/CFO | 9.5 |
| Total Yield | 9.8% |
| Dividend Yield | 3.2% |
| FCF Yield 3Y Avg | 9.9% |
| D/E | 0.2 |
| Net D/E | -0.5 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.4% |
| 3M Rtn | -1.0% |
| 6M Rtn | 12.8% |
| 12M Rtn | 0.4% |
| 3Y Rtn | 12.6% |
| 1M Excs Rtn | 5.5% |
| 3M Excs Rtn | -7.6% |
| 6M Excs Rtn | -1.9% |
| 12M Excs Rtn | -15.1% |
| 3Y Excs Rtn | -59.1% |
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11062025 | 10-Q 9/30/2025 |
| 6302025 | 8082025 | 10-Q 6/30/2025 |
| 3312025 | 5082025 | 10-Q 3/31/2025 |
| 12312024 | 2272025 | 10-K 12/31/2024 |
| 9302024 | 11072024 | 10-Q 9/30/2024 |
| 6302024 | 8072024 | 10-Q 6/30/2024 |
| 3312024 | 5032024 | 10-Q 3/31/2024 |
| 12312023 | 2262024 | 10-K 12/31/2023 |
| 9302023 | 11032023 | 10-Q 9/30/2023 |
| 6302023 | 8032023 | 10-Q 6/30/2023 |
| 3312023 | 5082023 | 10-Q 3/31/2023 |
| 12312022 | 2242023 | 10-K 12/31/2022 |
| 9302022 | 11042022 | 10-Q 9/30/2022 |
| 6302022 | 8052022 | 10-Q 6/30/2022 |
| 3312022 | 5102022 | 10-Q 3/31/2022 |
| 12312021 | 2252022 | 10-K 12/31/2021 |
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