Eastern in Mass. should sell itself: Activist investor
American Bankerยท2025-10-20 19:49
Key insight: Eastern Bankshares is facing pressure to sell from the same activist investor that pushed Dallas-based Comerica to make a deal.What's at stake: The activist investor argues that Eastern, one of the oldest banks in the country, misallocated excess capital that it generated after going public in 2020.Forward look: The activist investor plans to communicate with Eastern's board, but also warned that it is prepared to launch a proxy battle.Eastern Bankshares in Boston is being scrutinized by an act ...