Eagle Financial Services (NASDAQ:EFSI) Announces Quarterly Earnings Results

Key Points

• Eagle Financial Services (NASDAQ:EFSI) reported quarterly earnings of $1.04 per share, with a return on equity of 9.87% and a net margin of 7.45%.
• The company's stock declined by 0.5% to $37.04, with analysts setting an average target price of $39.50 and mixed ratings, including upgrades and downgrades.
• Institutional investors are showing increasing interest, with significant purchases from firms like Bank of America Corp DE and others in the second quarter.

Eagle Financial Services (NASDAQ:EFSI - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $1.04 earnings per share for the quarter, Zacks reports. Eagle Financial Services had a return on equity of 9.87% and a net margin of 7.45%.

Eagle Financial Services Trading Down 0.5%

Shares of NASDAQ:EFSI traded down $0.19 during midday trading on Thursday, reaching $37.04. The company's stock had a trading volume of 4,666 shares, compared to its average volume of 24,758. The firm has a market cap of $199.28 million, a price-to-earnings ratio of 17.15 and a beta of 0.28. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.39. Eagle Financial Services has a 1 year low of $28.70 and a 1 year high of $40.03. The business has a 50 day moving average price of $37.03 and a 200 day moving average price of $33.49.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EFSI shares. Wall Street Zen upgraded Eagle Financial Services from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. DA Davidson cut shares of Eagle Financial Services from a "strong-buy" rating to a "hold" rating in a research note on Monday. Weiss Ratings reissued a "hold (c)" rating on shares of Eagle Financial Services in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Eagle Financial Services from $38.00 to $39.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $39.50.

Institutional Trading of Eagle Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new stake in Eagle Financial Services in the second quarter valued at approximately $67,000. Raymond James Financial Inc. purchased a new stake in Eagle Financial Services in the second quarter valued at approximately $83,000. Bank of America Corp DE grew its holdings in Eagle Financial Services by 73.9% in the second quarter. Bank of America Corp DE now owns 6,881 shares of the company's stock valued at $211,000 after purchasing an additional 2,925 shares during the period. New York State Common Retirement Fund purchased a new stake in shares of Eagle Financial Services during the 2nd quarter valued at $101,000. Finally, Mendon Capital Advisors Corp grew its stake in shares of Eagle Financial Services by 8.0% during the 2nd quarter. Mendon Capital Advisors Corp now owns 54,000 shares of the company's stock valued at $1,653,000 after buying an additional 4,000 shares during the period. Hedge funds and other institutional investors own 0.31% of the company's stock.

Eagle Financial Services Company Profile

Eagle Financial Services, Inc operates as the bank holding company for Bank of Clarke County that provides various retail and commercial banking products and services in the Shenandoah Valley and Northern Virginia. The company's deposit products include checking, NOW, money market, and regular savings accounts; and demand and time deposits.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.