Can Eastern Bankshares (EBC) Run Higher on Rising Earnings Estimates?

Core Viewpoint - Eastern Bankshares, Inc. (EBC) is experiencing solid improvement in earnings estimates, which is likely to positively impact its stock price momentum [1][2]. Estimate Revisions - The upward trend in earnings estimate revisions indicates growing analyst optimism regarding Eastern Bankshares' earnings prospects, which correlates with stock price movements [2]. - The current-quarter earnings estimate is $0.33 per share, reflecting a +43.48% change from the previous year, with a 9.17% increase in the Zacks Consensus Estimate over the last 30 days due to four upward revisions [4]. - For the full year, the expected earnings are$ 1.49 per share, representing a +40.57% change from the prior year, with a 13.98% increase in the consensus estimate driven by four upward revisions [5]. Zacks Rank - Eastern Bankshares has achieved a Zacks Rank 1 (Strong Buy), indicating strong agreement among analysts in raising earnings estimates, which is expected to lead to significant stock outperformance [3][6]. - Stocks with Zacks Rank 1 and 2 are shown to significantly outperform the S&P 500 [6]. Stock Performance - The stock has gained 5.2% over the past four weeks, reflecting investor confidence in the company's earnings growth prospects [7].