On Tuesday, Eastern Bankshares received an upgrade to its Relative Strength (RS) Rating, from 70 to 79.
This unique rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks compares to the rest of the market.
Over 100 years of market history shows that the top-performing stocks tend to have an RS Rating north of 80 as they launch their largest runs. See if Eastern Bankshares can continue to rebound and hit that benchmark.
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While the stock is not near a proper entry right now, see if it goes on to form and break out from a proper base.
Earnings growth dropped last quarter from -12% to -22%. But revenue moved higher, from -8% to 30%.
Eastern Bankshares holds the No. 31 rank among its peers in the Banks-Northeast industry group. Amalgamated Financial, Ponce Financial Group and Orrstown Financial are among the top 5 highly rated stocks within the group.
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