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Eastern Bankshares (EBC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

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Eastern Bankshares, Inc. (EBC - Free Report) reported $157.59 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 212.6%. EPS of $0.23 for the same period compares to $0.38 a year ago.

The reported revenue represents a surprise of +0.05% over the Zacks Consensus Estimate of $157.52 million. With the consensus EPS estimate being $0.20, the EPS surprise was +15.00%.

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 performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Interest Margin: 2.7% versus the three-analyst average estimate of 2.7%.
  • Efficiency ratio (Gaap): 64.2% versus 67.1% estimated by three analysts on average.
  • Total Noninterest Income: $27.69 million versus $24.48 million estimated by three analysts on average.
  • Net Interest Income: $129.90 million compared to the $133.58 million average estimate based on two analysts.
View all Key Company Metrics for Eastern Bankshares here>>>

Shares of Eastern Bankshares have returned -4.3% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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