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Why You Shouldn't Bet Against Eastern Bankshares (EBC) Stock
One stock that might be an intriguing choice for investors right now is Eastern Bankshares, Inc. (EBC - Free Report) . This is because this security in the Banks - Northeast space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Banks - Northeast space as it currently has a Zacks Industry Rank of 47 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Eastern Bankshares is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
Eastern Bankshares, Inc. Price and Consensus
Eastern Bankshares, Inc. price-consensus-chart | Eastern Bankshares, Inc. Quote
In fact, over the past month, current quarter estimates have risen from 22 cents per share to 23 cents per share, while current year estimates have risen from 88 cents per share to 94 cents per share. This has helped EBC to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider Eastern Bankshares. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.