Overview

* Eastern Bank Q3 revenue beats analyst expectations

* Company announces 5% share repurchase program

* Received regulatory approvals for merger with HarborOne Bancorp, closing expected Nov 1, 2025

Outlook

* Eastern Bank expects merger with HarborOne Bancorp to close on November 1, 2025

Result Drivers

* COMMERCIAL LENDING - Period-end loans grew 1.3% linked qtr, driven by strong commercial lending

* WEALTH MANAGEMENT - Assets under management reached record high of $9.2 bln

* NET INTEREST MARGIN - Decline due to higher deposit costs and lower net discount accretion

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $241.50 $205.90

Revenue mln mln (4

Analysts

)

Q3 Net $106.10

Income mln

Q3 Net $200.20

Interest mln

Income

Q3 $94 mln

Pretax

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Eastern Bankshares Inc ( EBC ) is $22.50, about 17.4% above its October 21 closing price of $18.59

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)