Eastern Virginia Bankshares Inc. (NASDAQ:EVBS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “
Eastern Virginia Bankshares (NASDAQ:EVBS) remained flat at $7.52 during trading on Thursday. 461 shares of the stock were exchanged. The stock’s 50 day moving average is $7.35 and its 200 day moving average is $7.01. The company has a market capitalization of $97.12 million and a price-to-earnings ratio of 17.74. Eastern Virginia Bankshares has a 52 week low of $6.25 and a 52 week high of $7.75.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, August 10th.
Separately, Stephens began coverage on Eastern Virginia Bankshares in a research note on Tuesday, April 12th. They issued an “equal weight” rating on the stock.
Other hedge funds have recently made changes to their positions in the company. Deprince Race & Zollo Inc. purchased a new stake in shares of Eastern Virginia Bankshares during the second quarter valued at $417,000. Pinnacle Holdings LLC raised its stake in shares of Eastern Virginia Bankshares by 4.2% in the first quarter. Pinnacle Holdings LLC now owns 152,962 shares of the financial services provider’s stock valued at $1,023,000 after buying an additional 6,181 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Eastern Virginia Bankshares by 14.1% in the first quarter. Geode Capital Management LLC now owns 17,915 shares of the financial services provider’s stock valued at $119,000 after buying an additional 2,210 shares in the last quarter. Finally, FSI Group LLC raised its stake in shares of Eastern Virginia Bankshares by 25.4% in the fourth quarter. FSI Group LLC now owns 225,670 shares of the financial services provider’s stock valued at $1,620,000 after buying an additional 45,753 shares in the last quarter.
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.
