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Eastern Bankshares, Inc. (EBC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

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For the quarter ended September 2023, Eastern Bankshares, Inc. (EBC - Free Report) reported revenue of $156.36 million, down 20% over the same period last year. EPS came in at $0.32, compared to $0.34 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $174.56 million, representing a surprise of -10.42%. The company delivered an EPS surprise of +10.34%, with the consensus EPS estimate being $0.29.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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:

  • Net Interest Margin: 2.8% versus the three-analyst average estimate of 2.7%.
  • Efficiency ratio (Gaap): 65.1% versus 62% estimated by three analysts on average.
  • Total Noninterest Income: $19.16 million versus the three-analyst average estimate of $40.36 million.
  • Net Interest Income: $137.21 million versus the two-analyst average estimate of $139.13 million.
View all Key Company Metrics for Eastern Bankshares, Inc. here>>>

Shares of Eastern Bankshares, Inc. have returned -8.5% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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