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Compared to Estimates, Eastern Bankshares, Inc. (EBC) Q2 Earnings: A Look at Key Metrics
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Eastern Bankshares, Inc. (EBC - Free Report) reported $195.42 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.8%. EPS of $0.28 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of +7.87% over the Zacks Consensus Estimate of $181.17 million. With the consensus EPS estimate being $0.30, the EPS surprise was -6.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Eastern Bankshares, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency ratio (Gaap): 62.25% versus the three-analyst average estimate of 63.18%.
Net Interest Margin: 2.8% versus the three-analyst average estimate of 2.67%.
Total interest-earning assets-Average: $20.87 billion compared to the $21.16 billion average estimate based on two analysts.
Total Noninterest Income: $53.83 million versus $43.38 million estimated by three analysts on average.
Net Interest Income: $141.59 million versus $137.57 million estimated by two analysts on average.
Trust and investment advisory fees: $6.13 million compared to the $5.79 million average estimate based on two analysts.
Net Interest Income (FTE): $145.47 million versus $143.13 million estimated by two analysts on average.
Other: $5.56 million versus $3.06 million estimated by two analysts on average.
Service charges on deposit accounts: $7.24 million versus $6.37 million estimated by two analysts on average.
Insurance commissions: $27.61 million versus $23.32 million estimated by two analysts on average.
Debit card processing fees: $3.51 million versus the two-analyst average estimate of $3.20 million.
Shares of Eastern Bankshares, Inc. have returned +19% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Eastern Bankshares, Inc. (EBC) Q2 Earnings: A Look at Key Metrics
Eastern Bankshares, Inc. (EBC - Free Report) reported $195.42 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.8%. EPS of $0.28 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of +7.87% over the Zacks Consensus Estimate of $181.17 million. With the consensus EPS estimate being $0.30, the EPS surprise was -6.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Eastern Bankshares, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency ratio (Gaap): 62.25% versus the three-analyst average estimate of 63.18%.
- Net Interest Margin: 2.8% versus the three-analyst average estimate of 2.67%.
- Total interest-earning assets-Average: $20.87 billion compared to the $21.16 billion average estimate based on two analysts.
- Total Noninterest Income: $53.83 million versus $43.38 million estimated by three analysts on average.
- Net Interest Income: $141.59 million versus $137.57 million estimated by two analysts on average.
- Trust and investment advisory fees: $6.13 million compared to the $5.79 million average estimate based on two analysts.
- Net Interest Income (FTE): $145.47 million versus $143.13 million estimated by two analysts on average.
- Other: $5.56 million versus $3.06 million estimated by two analysts on average.
- Service charges on deposit accounts: $7.24 million versus $6.37 million estimated by two analysts on average.
- Insurance commissions: $27.61 million versus $23.32 million estimated by two analysts on average.
- Debit card processing fees: $3.51 million versus the two-analyst average estimate of $3.20 million.
View all Key Company Metrics for Eastern Bankshares, Inc. here>>>Shares of Eastern Bankshares, Inc. have returned +19% over the past month versus the Zacks S&P 500 composite's +5.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.