Eagle Financial Services (NASDAQ:EFSI) Raised to Buy at Wall Street Zen

Key Points

• Eagle Financial Services has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating improved investor sentiment.
• The company recently reported a quarterly EPS of $0.98, surpassing analyst expectations by $0.16.
• Significant insider buying was noted, with Director Scott M. Hamberger purchasing 849 shares at an average price of $31.00, increasing his stake by nearly 10%.

Eagle Financial Services (NASDAQ:EFSI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Eagle Financial Services Stock Down 0.5%

Eagle Financial Services stock traded down $0.16 during mid-day trading on Friday, reaching $33.34. 9,772 shares of the company's stock traded hands, compared to its average volume of 16,777. The stock has a market capitalization of $179.37 million, a P/E ratio of 15.44 and a beta of 0.27. The firm's 50 day moving average price is $31.64. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.05 and a current ratio of 1.06. Eagle Financial Services has a 12-month low of $28.70 and a 12-month high of $36.93.

Eagle Financial Services (NASDAQ:EFSI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.16. The company had revenue of $20.61 million for the quarter. Eagle Financial Services had a net margin of 7.45% and a return on equity of 10.62%.

Insider Buying and Selling at Eagle Financial Services

In other news, Director Scott M. Hamberger bought 849 shares of Eagle Financial Services stock in a transaction dated Friday, May 23rd. The shares were acquired at an average price of $31.00 per share, with a total value of $26,319.00. Following the completion of the purchase, the director owned 9,571 shares in the company, valued at $296,701. The trade was a 9.73% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.28% of the company's stock.

Institutional Investors Weigh In On Eagle Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in shares of Eagle Financial Services in the first quarter valued at $11,007,000. EJF Capital LLC purchased a new position in Eagle Financial Services in the 1st quarter worth about $5,194,000. Azora Capital LP purchased a new position in Eagle Financial Services in the 1st quarter worth about $3,275,000. Jacobs Asset Management LLC purchased a new position in Eagle Financial Services in the 1st quarter worth about $2,565,000. Finally, Mendon Capital Advisors Corp purchased a new position in Eagle Financial Services in the 1st quarter worth about $1,640,000. Hedge funds and other institutional investors own 0.31% of the company's stock.

About Eagle Financial Services

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.