Piper Sandler Maintains Buy Rating for EBC, Targets $24
Piper Sandler reiterated its buy rating on EBC, setting a $24 price target, a 9.84% upside from the current price.
Key Points
- Piper Sandler reiterated its buy rating on EBC on June 26, 2026, with a price target of $24.
- Piper Sandler's $24 price target implies 9.84% upside from Eastern Bankshares, Inc.'s ($EBC) current $21.85 share price.
- EBC shares traded at $21.85 on Friday, reflecting active interest from institutional investors.
- Insiders like Harlam Bari and Sullivan Michael James bought shares on May 18, 2026, showing internal confidence.
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Piper Sandler has reiterated its buy rating on EBC, setting a price target of $24. This update from analyst Justin Crowley comes as EBC shares traded at $21.85 on Friday, June 26, 2026.
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Other Institutional Activity in EBC
Several institutional investors have been adjusting their positions in EBC. BlackRock, Inc. trimmed its holdings by 1,069,461 shares, ending with 16,718,373 shares valued at about $327 million, a 6.0% decrease. FMR LLC reduced its stake by 2,790,592 shares, resulting in 14,817,500 shares worth approximately $290 million, marking a 15.8% decrease. T. Rowe Price Investment Management, Inc. cut its position by 272,771 shares, holding 13,455,787 shares valued at around $263 million, a 2.0% decrease. Meanwhile, Vanguard Portfolio Management LLC opened a new position with 10,788,460 shares valued at about $211 million, and Vanguard Capital Management LLC also initiated a stake with 9,515,766 shares worth around $186 million.
Insider Buying and Selling at Eastern Bankshares, Inc.
Several insiders at EBC purchased shares on May 18, 2026. Harlam Bari, Sullivan Michael James, Richard Edward Holbrook, Andargachew Zelleke, Luis Borgen, and Cathleen Agnes Schmidt each acquired 3,883 shares. These transactions were not part of a pre-planned trading program, indicating personal confidence in the company's prospects.
Analysts Set New Price Targets
On June 26, 2026, Piper Sandler maintained its buy rating on EBC with a $24 price target. Previously, DA Davidson had initiated coverage with a buy rating and a $24 target on May 15, 2026. TD Cowen also maintained a buy rating with a $22 target on April 27, 2026, while Barclays held a hold rating with a $22 target. The consensus among analysts is a buy rating, with an average target price of $24 across multiple firms.
Bottom Line
Piper Sandler's reiteration of a buy rating for EBC with a $24 target reflects continued confidence in the company's potential. While institutional investors have shown mixed activity, with some reducing and others initiating positions, insider buying suggests internal optimism. As always, investors should consider these updates as part of a broader investment strategy.
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