Piper Sandler Begins Coverage on Eastern Bankshares

Analysts set "overweight" rating and $23 price target for the bank

Mar. 16, 2026 at 2:38pm

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Stock analysts at Piper Sandler have initiated coverage on shares of Eastern Bankshares (NASDAQ:EBC), setting an "overweight" rating and a $23.00 price target on the stock. Piper Sandler's price target indicates a potential upside of 21.05% from the company's current trading price.

Why it matters

This coverage initiation by a major investment firm provides an external validation of Eastern Bankshares' business prospects and growth potential. As one of the oldest and largest mutual banks in the U.S., Eastern Bankshares has maintained a community-focused heritage while transitioning to public ownership in 2020.

The details

In their research report, Piper Sandler analysts cited Eastern Bankshares' strong market position, diversified revenue streams, and prudent risk management as factors supporting their "overweight" rating and $23 price target. The bank has received similar "buy" recommendations from several other research firms in recent months.

  • Piper Sandler initiated coverage on Eastern Bankshares on Monday, March 16, 2026.

The players

Piper Sandler

A leading investment banking and institutional securities firm.

Eastern Bankshares

A community-focused bank based in Salem, Massachusetts that recently transitioned to public ownership in 2020.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

The takeaway

This coverage initiation by Piper Sandler highlights the growth potential of Eastern Bankshares as it navigates the transition to public ownership while maintaining its community-oriented banking model.