Wellington Management Group LLP Buys Shares of 335,668 Eagle Financial Services Inc. $EFSI

Key Points

• Wellington Management Group LLP purchased 335,668 shares of Eagle Financial Services Inc., valued at approximately $11 million, indicating significant institutional interest in the company.
• Several analysts have upgraded their ratings for Eagle Financial Services, with Keefe, Bruyette & Woods raising the target price from $38.00 to $39.00 and labeling it as "outperform."
• Eagle Financial Services reported an earnings per share (EPS) of $0.98 for the last quarter, surpassing estimates and reflecting a net margin of 7.45% along with a quarterly dividend yield of 3.4%.

Wellington Management Group LLP acquired a new position in shares of Eagle Financial Services Inc. (NASDAQ:EFSI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 335,668 shares of the company's stock, valued at approximately $11,007,000. Wellington Management Group LLP owned about 6.24% of Eagle Financial Services as of its most recent filing with the SEC.

Separately, Persistent Asset Partners Ltd purchased a new position in Eagle Financial Services during the 1st quarter worth $687,000. 0.31% of the stock is owned by hedge funds and other institutional investors.

Eagle Financial Services Price Performance

NASDAQ:EFSI traded down $0.35 during mid-day trading on Tuesday, hitting $37.08. 3,453 shares of the company's stock traded hands, compared to its average volume of 26,576. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.03 and a current ratio of 1.03. The firm's 50 day simple moving average is $33.65 and its 200 day simple moving average is $32.25. Eagle Financial Services Inc. has a 1 year low of $28.70 and a 1 year high of $37.43. The company has a market cap of $199.49 million, a PE ratio of 17.17 and a beta of 0.29.

Eagle Financial Services (NASDAQ:EFSI - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.16. Eagle Financial Services had a net margin of 7.45% and a return on equity of 9.87%. The firm had revenue of $20.61 million during the quarter.

Eagle Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, August 4th. Eagle Financial Services's dividend payout ratio (DPR) is 57.41%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EFSI. Keefe, Bruyette & Woods upped 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 report on Monday, August 4th. Wall Street Zen upgraded shares of Eagle Financial Services from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, DA Davidson increased their price target on shares of Eagle Financial Services from $39.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $39.50.

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.