What Makes Eastern Bankshares, Inc. (EBC) a Strong Momentum Stock: Buy Now?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell even higher, with the expectation that established trends will continue [1] Company Overview: Eastern Bankshares, Inc. (EBC) - EBC currently holds a Momentum Style Score of B, indicating a favorable position in momentum investing [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] Price Performance - EBC shares have increased by 2.86% over the past week, outperforming the Zacks Banks - Northeast industry, which rose by 0.51% [5] - Over the past month, EBC's price change is 11.66%, compared to the industry's 6.45% [5] - In the last three months, EBC shares rose by 3.18%, and over the past year, they increased by 40.29%, while the S&P 500 saw gains of 2.97% and 24.31%, respectively [6] Trading Volume - EBC's average 20-day trading volume is 999,276 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, four earnings estimates for EBC have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $1.31 to$1.49 [9] - For the next fiscal year, three estimates have also moved upwards without any downward revisions [9] Conclusion - Given the positive momentum indicators and earnings outlook, EBC is positioned as a strong buy candidate for investors seeking short-term opportunities [11]