Eastern Virginia Bankshares, Inc. (EVBS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Eastern Virginia Bankshares, Inc. (NASDAQ:EVBS) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “EASTERN VA BKSH is a bank holding company. Through subsidiaries, they provide full banking services, including commercial and consumer demand and time deposit accounts, commercial and consumer loans, Visa and Mastercard revolving credit accounts, drive-in banking services and automated teller machine transactions. The area served by them is primarily the counties of Essex, Northumberland, King & Queen, King William, Richmond, Lancaster, Hanover, Gloucester, Middlesex and Caroline. “

Separately, Keefe, Bruyette & Woods set a $11.00 price objective on shares of Eastern Virginia Bankshares and gave the stock a hold rating in a research note on Friday, March 17th.

Eastern Virginia Bankshares (NASDAQ:EVBS) opened at 10.45 on Tuesday. The company has a market capitalization of $135.31 million, a P/E ratio of 24.70 and a beta of 0.10. The firm has a 50-day moving average of $10.62 and a 200 day moving average of $9.69. Eastern Virginia Bankshares has a 52-week low of $6.66 and a 52-week high of $11.10.

Eastern Virginia Bankshares (NASDAQ:EVBS) last posted its quarterly earnings data on Monday, February 6th. The financial services provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by $0.02. Eastern Virginia Bankshares had a return on equity of 6.69% and a net margin of 13.32%. Equities analysts predict that Eastern Virginia Bankshares will post $0.51 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the company. CNH Partners LLC bought a new stake in Eastern Virginia Bankshares during the fourth quarter valued at $524,000. Chicago Capital Management LLC bought a new stake in Eastern Virginia Bankshares during the first quarter valued at $643,000. Renaissance Technologies LLC bought a new stake in Eastern Virginia Bankshares during the fourth quarter valued at $672,000. Finally, Dimensional Fund Advisors LP increased its stake in Eastern Virginia Bankshares by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 83,865 shares of the financial services provider’s stock valued at $876,000 after buying an additional 7,284 shares in the last quarter. 40.72% of the stock is currently owned by institutional investors.

Eastern Virginia Bankshares Company Profile

Eastern Virginia Bankshares, Inc is a bank holding company. The Company operates through its bank subsidiary, EVB (the Bank). EVB is a community bank focusing on small to medium-sized businesses and consumers in its coastal plain markets and the emerging suburbs outside of the Richmond, Tidewater, and southern Virginia areas.

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