Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Eastern Bankshares Inc. shares valued at $211,182 were sold by Miller Quincy Lee on Sep 04 ’24. At $16.66 per share, Miller Quincy Lee sold 12,676 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Miller Quincy Lee purchased 12,676 shares, netting a total of over 211,167 in proceeds.
Before that, Palandjian Leon Aghababai had added 5,000 shares to its account. In a trade valued at $78,200, the Director bought Eastern Bankshares Inc. shares for $15.64 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $1.56 million.
Analysts at Seaport Research Partners started covering the stock with ‘”a Buy”‘ outlook in a report released in mid September. As of January 31, 2023, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for EBC. Earlier on January 30, 2023, Janney downgraded its rating. Their new recommendation was “a Neutral” for EBC stock which previously was a “a Buy”.
Analyzing EBC Stock Performance
During the last five days, there has been a surge of approximately 7.55%. Over the course of the year, Eastern Bankshares Inc. shares have jumped approximately 20.35%. Shares of the company reached a 52-week high of $17.26 on 07/26/24 and a 52-week low of $12.22 on 04/16/24. A 50-day SMA is recorded $16.00, while a 200-day SMA reached $14.14. Nevertheless, trading volume fell to 1.61 million shares from 1.3 million shares the previous day.
Support And Resistance Levels for Eastern Bankshares Inc. (EBC)
According to the 24-hour chart, there is a support level at 16.90, which, if violated, would cause prices to drop to 16.70. In the upper region, resistance lies at 17.23. The next price resistance is at 17.37. RSI (Relative Strength Index) is 65.78 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.37, which suggests the price will decrease in the coming days. Percent R is at 4.99%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
