Eastern Virginia Bankshares, Inc. (NASDAQ:EVBS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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 reaffirmed a “hold” rating and issued a $11.00 price target on shares of Eastern Virginia Bankshares in a research note on Friday, June 2nd.
Shares of Eastern Virginia Bankshares (NASDAQ EVBS) traded down 0.37% during midday trading on Thursday, hitting $10.87. 4,371 shares of the stock were exchanged. Eastern Virginia Bankshares has a 12 month low of $6.86 and a 12 month high of $11.71. The firm has a 50 day moving average of $10.95 and a 200-day moving average of $10.57. The stock has a market cap of $140.86 million, a P/E ratio of 27.31 and a beta of 0.03.
ILLEGAL ACTIVITY WARNING: “Eastern Virginia Bankshares, Inc. (EVBS) Stock Rating Lowered by Zacks Investment Research” was first published by sleekmoney and is the sole property of of sleekmoney. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://sleekmoney.com/eastern-virginia-bankshares-inc-evbs-stock-rating-lowered-by-zacks-investment-research/1932426.html.
Hedge funds and other institutional investors have recently bought and sold shares of the company. ClariVest Asset Management LLC increased its position in Eastern Virginia Bankshares by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 9,685 shares of the financial services provider’s stock valued at $102,000 after buying an additional 492 shares in the last quarter. Bank of New York Mellon Corp increased its position in Eastern Virginia Bankshares by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 14,563 shares of the financial services provider’s stock valued at $153,000 after buying an additional 1,525 shares in the last quarter. Geode Capital Management LLC increased its position in Eastern Virginia Bankshares by 20.9% in the first quarter. Geode Capital Management LLC now owns 19,571 shares of the financial services provider’s stock valued at $205,000 after buying an additional 3,379 shares in the last quarter. Stifel Financial Corp bought a new position in Eastern Virginia Bankshares during the first quarter valued at approximately $212,000. Finally, Wells Fargo & Company MN increased its position in Eastern Virginia Bankshares by 13.4% in the first quarter. Wells Fargo & Company MN now owns 31,828 shares of the financial services provider’s stock valued at $334,000 after buying an additional 3,762 shares in the last quarter. 47.01% of the stock is currently owned by 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/eastern-virginia-bankshares-inc-evbs-stock-rating-lowered-by-zacks-investment-research/1932426.html
Receive News & Ratings for Eastern Virginia Bankshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastern Virginia Bankshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.