Eagle Financial Services (NASDAQ:EFSI) Announces Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Key Points

• Eagle Financial Services reported quarterly earnings of $0.98 per share, exceeding estimates by $0.16.
• The company announced a quarterly dividend of $0.31 per share, with a dividend yield of 3.72%.
• Eagle Financial Services stock experienced a slight decline, trading down 0.4% to $33.36 following the earnings announcement.

Eagle Financial Services (NASDAQ:EFSI - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.16, Zacks reports. Eagle Financial Services had a net margin of 7.45% and a return on equity of 10.62%. The business had revenue of $20.61 million during the quarter.

Eagle Financial Services Trading Down 0.6%

Shares of EFSI traded down $0.19 during mid-day trading on Wednesday, reaching $33.15. 15,862 shares of the stock traded hands, compared to its average volume of 28,881. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.54. Eagle Financial Services has a 1 year low of $28.70 and a 1 year high of $36.93. The firm has a market cap of $178.35 million, a P/E ratio of 15.35 and a beta of 0.27. The business has a fifty day simple moving average of $31.64.

Eagle Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Monday, August 4th will be paid a dividend of $0.31 per share. The ex-dividend date is Monday, August 4th. This represents a $1.24 annualized dividend and a yield of 3.74%. Eagle Financial Services's dividend payout ratio is currently 57.41%.

Insider Buying and Selling

In related news, Director Scott M. Hamberger bought 849 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $31.00 per share, for a total transaction of $26,319.00. Following the completion of the transaction, the director owned 9,571 shares of the company's stock, valued at approximately $296,701. The trade was a 9.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eagle Financial Services

An institutional investor recently bought a new position in Eagle Financial Services stock. Goldman Sachs Group Inc. acquired a new stake in Eagle Financial Services Inc. (NASDAQ:EFSI - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 8,742 shares of the company's stock, valued at approximately $287,000. Goldman Sachs Group Inc. owned approximately 0.16% of Eagle Financial Services as of its most recent filing with the SEC. 0.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Eagle Financial Services from a "hold" rating to a "buy" rating in a research note on Saturday. DA Davidson lifted their price objective on Eagle Financial Services from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday.

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.