Persistent Asset Partners Ltd Buys New Stake in Eagle Financial Services Inc. (NASDAQ:EFSI)

Key Points

• Persistent Asset Partners Ltd has acquired a new stake in Eagle Financial Services Inc., purchasing 20,953 shares valued at approximately $687,000, representing 0.39% of the company's stock.
• Several analysts have upgraded Eagle Financial Services, with target prices raised by firms such as Keefe, Bruyette & Woods and DA Davidson, reflecting positive sentiment in the stock.
• Eagle Financial Services has announced a quarterly dividend of $0.31 per share, yielding approximately 3.8%, with the ex-dividend date set for August 4th.

Persistent Asset Partners Ltd bought a new stake in shares of Eagle Financial Services Inc. (NASDAQ:EFSI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,953 shares of the company's stock, valued at approximately $687,000. Persistent Asset Partners Ltd owned approximately 0.39% of Eagle Financial Services as of its most recent filing with the Securities & Exchange Commission.

Separately, Evermay Wealth Management LLC purchased a new position in Eagle Financial Services during the first quarter valued at $86,000. Institutional investors own 0.31% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on EFSI. Keefe, Bruyette & Woods raised their target price on shares of Eagle Financial Services from $38.00 to $39.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Wall Street Zen raised shares of Eagle Financial Services from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, DA Davidson increased their price objective on shares of Eagle Financial Services from $39.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th.

Insider Activity

In related news, Director Scott M. Hamberger acquired 849 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average price of $31.00 per share, for a total transaction of $26,319.00. Following the acquisition, the director directly owned 9,571 shares of the company's stock, valued at $296,701. This represents a 9.73% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have bought 1,923 shares of company stock valued at $60,219. 12.28% of the stock is currently owned by company insiders.

Eagle Financial Services Trading Down 0.4%

Eagle Financial Services stock opened at $32.97 on Tuesday. The business has a 50-day moving average price of $31.93. The company has a market cap of $177.38 million, a price-to-earnings ratio of 15.26 and a beta of 0.26. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.54. Eagle Financial Services Inc. 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 earnings results on Thursday, July 24th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.16. The firm had revenue of $20.61 million during the quarter. Eagle Financial Services had a net margin of 7.45% and a return on equity of 10.62%.

Eagle Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 4th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 4th. Eagle Financial Services's dividend payout ratio (DPR) is 57.41%.

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.

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