BlackRock Inc. Acquires Shares of 345,268 Eagle Financial Services Inc. $EFSI

Key Points

• BlackRock acquired 345,268 shares of Eagle Financial Services in the second quarter, worth approximately $14.3 million and representing a 6.38% stake.
• Eagle Financial Services reported quarterly EPS of $0.41, missing the $0.78 consensus estimate, although revenue of $25.56 million exceeded analyst expectations of $21.29 million.
• The company pays a quarterly dividend of $0.31, equivalent to $1.24 annually and a 3.0% yield. Analyst sentiment is mixed, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $42.25.

BlackRock Inc. bought a new position in shares of Eagle Financial Services Inc. (NASDAQ:EFSI - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 345,268 shares of the company's stock, valued at approximately $14,315,000. BlackRock Inc. owned 6.38% of Eagle Financial Services at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new position in Eagle Financial Services during the third quarter worth $26,000. BNP Paribas Financial Markets increased its stake in shares of Eagle Financial Services by 82.8% during the third quarter. BNP Paribas Financial Markets now owns 1,188 shares of the company's stock worth $45,000 after purchasing an additional 538 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Eagle Financial Services during the 2nd quarter worth about $67,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Eagle Financial Services during the 3rd quarter worth about $84,000. Finally, Raymond James Financial Inc. purchased a new position in Eagle Financial Services in the 2nd quarter valued at about $83,000. Hedge funds and other institutional investors own 0.31% of the company's stock.

Eagle Financial Services Trading Up 0.2%

EFSI opened at $41.51 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01. The company's 50 day simple moving average is $41.59 and its two-hundred day simple moving average is $39.05. Eagle Financial Services Inc. has a 1-year low of $31.44 and a 1-year high of $45.44. The firm has a market capitalization of $224.57 million, a price-to-earnings ratio of 12.00 and a beta of 0.23.

Eagle Financial Services (NASDAQ:EFSI - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.37). Eagle Financial Services had a net margin of 15.16% and a return on equity of 8.38%. The company had revenue of $25.56 million during the quarter, compared to analyst estimates of $21.29 million. Analysts expect that Eagle Financial Services Inc. will post 2.71 EPS for the current fiscal year.

Eagle Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.0%. Eagle Financial Services's dividend payout ratio (DPR) is 35.84%.

Wall Street Analyst Weigh In

A number of brokerages have commented on EFSI. Wall Street Zen cut Eagle Financial Services from a "sell" rating to a "strong sell" rating in a report on Saturday, August 29th. Zacks Research lowered Eagle Financial Services from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Freedom Capital upgraded Eagle Financial Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. DA Davidson reissued a "neutral" rating and issued a $40.00 price objective on shares of Eagle Financial Services in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded Eagle Financial Services from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.25.

Eagle Financial Services Company Profile

Eagle Financial Services, Inc NASDAQ: EFSI is the bank holding company for Eagle National Bank, a community-oriented financial institution headquartered in Fredericksburg, Virginia. The company offers a broad range of retail and commercial banking solutions, focusing on personalized service for individuals, small businesses, and nonprofit organizations. Through its subsidiary, Eagle National Bank, it maintains a commitment to local decision-making and relationship-driven service.

Eagle Financial Services provides deposit products including checking and savings accounts, money market funds, certificates of deposit, and individual retirement accounts.

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