Piper Sandler Reiterates Buy Rating for Eastern Bankshares
Piper Sandler maintains a buy rating on Eastern Bankshares with a $24 price target, a 8.74% upside from the current price.
Key Points
- On June 26, 2026, Piper Sandler reiterated its buy rating for Eastern Bankshares, Inc. (EBC) with a price target of $24.
- Piper Sandler's $24 price target implies 8.74% upside from Eastern Bankshares, Inc.'s ($EBC) current $22.07 share price.
- Shares of Eastern Bankshares traded near $21.85 on Saturday, with a market cap of approximately $4.75 billion and a P/E ratio of 12.2.
- Recent insider buying included multiple directors purchasing 3,883 shares each on May 18, 2026.
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Piper Sandler has reiterated its buy rating on Eastern Bankshares, Inc. (NasdaqGS: EBC) with a price target of $24. This reaffirmation by analyst Justin Crowley came on June 26, 2026, as part of the firm's ongoing analysis of the financial services company.
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Eastern Bankshares, Inc. Stock Down 1.0%
Shares of NasdaqGS:EBC traded near $21.85 on Saturday. Eastern Bankshares, Inc. boasts a market capitalization of approximately $4.75 billion. The company has a P/E ratio of 12.2 and a forward P/E of 10.2, indicating potential future earnings growth. The stock's 52-week range spans from a low of $14.88 to a high of $22.58, and it has a 50-day moving average of $20.20 and a 200-day moving average of $19.35.
$EBC price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Eastern Bankshares reported revenue of about $1.03 billion, reflecting its strong position in the regional banking sector. The company achieved a net margin of 35.9% and a return on equity of 9.4%. Investors can look forward to the next earnings report scheduled for July 23, 2026.
Insider Buying and Selling at Eastern Bankshares, Inc.
Several insiders at Eastern Bankshares made purchases on May 18, 2026. Directors including Harlam Bari, Michael James Sullivan, Richard Edward Holbrook, Andargachew Zelleke, Luis Borgen, and Cathleen Agnes Schmidt each bought 3,883 shares. These transactions were not part of any pre-planned trading program.
Analysts Set New Price Targets
On June 26, 2026, Piper Sandler maintained its buy rating on Eastern Bankshares with a price target of $24. DA Davidson also initiated coverage with a buy rating and the same target on May 15, 2026. Other analysts like TD Cowen and Barclays have maintained their ratings, with TD Cowen setting a target of $22 on April 27, 2026. The consensus recommendation for Eastern Bankshares is a strong buy, with an average target price of $23.31 based on eight analyst opinions.
About Eastern Bankshares, Inc.
Eastern Bankshares, Inc. operates as the holding company for Eastern Bank, providing a range of banking services to retail, commercial, and small business clients in the U.S. Founded in 1818, the company is headquartered in Boston, Massachusetts, and led by CEO Denis K. Sheahan. It offers various deposit and loan products, along with wealth management and trust services. The company employs around 2,247 people.
Bottom Line
Piper Sandler's reiterated buy rating for Eastern Bankshares highlights continued confidence in the company's potential. Investors should note that analyst ratings are based on projections and may change as new information becomes available. As always, these ratings are backward-looking and reflect the situation as of the analysis date.
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