Monday, May 03, 2021 3:20:47 PM
No secret knowledge. Just go to the website where you can read the release, and listen to the CC from a few days ago. Slide deck very informative. The CFO communicates well. https://s26.q4cdn.com/739241435/files/doc_financials/2021/q1/EBC-2021.03.31-Q1-2021-Earnings-Deck.pdf,
Earnings for the quarter a very respectable 28 cents.
They had some minor improvements in the efficiency ratio and there is more to come on that, I am sure, as they move from mutual bank culture to public company culture.
Main problem is loan growth (practically none) and the outsized deposit growth. (People love their Eastern Bank.) That cash is a drag on earnngs and various metrics until it can be put to work.
I continue to be very optimistic that we will see continued growth, in the business as well as share price. However, it's not the screaming bargain of a few months ago. Book value per share and tangible book value per share are now at $18.14 and $16.12, respectively.
Good luck. Just my opinion.
Recent EBC News
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