Director Luis Borgen Sells 40,288 Shares of Eastern Bankshares Inc (EBC)
Director Luis Borgen of Eastern Bankshares Inc (NASDAQ:EBC) has sold 40,288 shares of the company on March 18, 2024, according to a recent SEC filing. The transaction was executed at an average price of $13.08 per share, resulting in a total value of approximately $527,165.44.
Eastern Bankshares Inc operates as the bank holding company for Eastern Bank that provides commercial banking products and services primarily in Massachusetts and southern and coastal New Hampshire. The company offers a range of banking services including investment and insurance products, and is known for its community-focused approach.
Over the past year, the insider has sold a total of 40,288 shares of Eastern Bankshares Inc and has not made any purchases of the stock. The recent sale by Director Luis Borgen is part of a trend observed over the last year, where there have been no insider buys but 10 insider sells for the company.
On the day of the insider's recent sale, shares of Eastern Bankshares Inc were trading at $13.08, giving the company a market capitalization of $2.35 billion. The price-earnings ratio of the company stands at 9.45, which is slightly higher than the industry median of 9.2 but lower than the companys historical median price-earnings ratio.
According to the GuruFocus Value chart, with a stock price of $13.08 and a GuruFocus Value of $13.17, Eastern Bankshares Inc is considered to be Fairly Valued, with a price-to-GF-Value ratio of 0.99. The GF Value is an intrinsic value estimate that takes into account historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
The recent insider transaction may provide investors with an insight into the company's performance and stock valuation. However, it is important to consider a wide range of factors when evaluating the potential investment in Eastern Bankshares Inc.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
