Eastern Bankshares initiated with an Equal Weight at Barclays

Barclays analyst Jared Shaw initiated coverage of Eastern Bankshares (EBC) with an Equal Weight rating and $22 price target The company has “optionality” given its high capital levels, good commercial platform, and solid deposit base, the analyst tells investors in a research note. However, the integration of two large mergers in two years and Eastern’s slower growth markets could pose headwinds relative to its peers, the analyst tells investors in a research note.