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Eastern Bankshares (EBC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2024, Eastern Bankshares, Inc. (EBC - Free Report) reported revenue of $203.38 million, up 30.1% over the same period last year. EPS came in at $0.25, compared to $0.32 in the year-ago quarter.
The reported revenue represents a surprise of -5.81% over the Zacks Consensus Estimate of $215.92 million. With the consensus EPS estimate being $0.33, the EPS surprise was -24.24%.
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:
Efficiency ratio (Gaap): 78.5% compared to the 57.3% average estimate based on four analysts.
Net Interest Margin: 3% versus the four-analyst average estimate of 3%.
Total interest-earning assets-Average: $23.43 billion versus the three-analyst average estimate of $24.13 billion.
Total Non-Performing Assets: $124.50 million versus $50.68 million estimated by two analysts on average.
Total Non-Performing Loans: $124.50 million versus $50.68 million estimated by two analysts on average.
Net charge-offs to average total loans outstanding during this period: 0.1% versus the two-analyst average estimate of 0.1%.
Net Interest Income: $169.86 million compared to the $181.14 million average estimate based on four analysts.
Total Noninterest Income: $33.53 million compared to the $34.65 million average estimate based on four analysts.
Interest rate swap income (losses): $0.57 million compared to the $0.72 million average estimate based on three analysts.
Debit card processing fees: $3.81 million versus the three-analyst average estimate of $3.97 million.
Trust and investment advisory fees: $14.91 million compared to the $14.75 million average estimate based on three analysts.
Service charges on deposit accounts: $8.14 million compared to the $8.63 million average estimate based on three analysts.
Shares of Eastern Bankshares have returned +4.6% over the past month versus the Zacks S&P 500 composite's +1.5% 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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Eastern Bankshares (EBC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2024, Eastern Bankshares, Inc. (EBC - Free Report) reported revenue of $203.38 million, up 30.1% over the same period last year. EPS came in at $0.25, compared to $0.32 in the year-ago quarter.
The reported revenue represents a surprise of -5.81% over the Zacks Consensus Estimate of $215.92 million. With the consensus EPS estimate being $0.33, the EPS surprise was -24.24%.
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:
- Efficiency ratio (Gaap): 78.5% compared to the 57.3% average estimate based on four analysts.
- Net Interest Margin: 3% versus the four-analyst average estimate of 3%.
- Total interest-earning assets-Average: $23.43 billion versus the three-analyst average estimate of $24.13 billion.
- Total Non-Performing Assets: $124.50 million versus $50.68 million estimated by two analysts on average.
- Total Non-Performing Loans: $124.50 million versus $50.68 million estimated by two analysts on average.
- Net charge-offs to average total loans outstanding during this period: 0.1% versus the two-analyst average estimate of 0.1%.
- Net Interest Income: $169.86 million compared to the $181.14 million average estimate based on four analysts.
- Total Noninterest Income: $33.53 million compared to the $34.65 million average estimate based on four analysts.
- Interest rate swap income (losses): $0.57 million compared to the $0.72 million average estimate based on three analysts.
- Debit card processing fees: $3.81 million versus the three-analyst average estimate of $3.97 million.
- Trust and investment advisory fees: $14.91 million compared to the $14.75 million average estimate based on three analysts.
- Service charges on deposit accounts: $8.14 million compared to the $8.63 million average estimate based on three analysts.
View all Key Company Metrics for Eastern Bankshares here>>>Shares of Eastern Bankshares have returned +4.6% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.