Zacks Investment Research upgraded shares of Eastern Virginia Bankshares, Inc. (NASDAQ:EVBS) from a hold rating to a buy rating in a report issued on Friday morning. Zacks Investment Research currently has $12.00 price objective on the financial services provider’s stock.
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. “
Shares of Eastern Virginia Bankshares (NASDAQ:EVBS) opened at 10.80 on Friday. Eastern Virginia Bankshares has a 52-week low of $6.60 and a 52-week high of $10.80. The firm’s 50-day moving average price is $10.23 and its 200-day moving average price is $8.82. The stock has a market cap of $141.65 million, a P/E ratio of 25.71 and a beta of 0.10.
Eastern Virginia Bankshares (NASDAQ:EVBS) last issued its quarterly earnings data on Monday, February 6th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by $0.02. Eastern Virginia Bankshares had a net margin of 13.32% and a return on equity of 6.69%. Equities analysts predict that Eastern Virginia Bankshares will post $0.51 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Stockholders of record on Friday, February 17th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Wednesday, February 15th. Eastern Virginia Bankshares’s payout ratio is 28.57%.
Large investors have recently modified their holdings of the stock. Deprince Race & Zollo Inc. increased its stake in shares of Eastern Virginia Bankshares by 12.8% in the third quarter. Deprince Race & Zollo Inc. now owns 62,258 shares of the financial services provider’s stock worth $501,000 after buying an additional 7,049 shares during the last quarter. CNH Partners LLC acquired a new stake in shares of Eastern Virginia Bankshares during the fourth quarter worth about $524,000. Renaissance Technologies LLC acquired a new stake in shares of Eastern Virginia Bankshares during the fourth quarter worth about $672,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of 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 worth $876,000 after buying an additional 7,284 shares during the last quarter. 40.72% of the stock is owned by hedge funds and other institutional investors.
About Eastern Virginia Bankshares
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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