Eagle Financial Q2 EPS $0.92, NIM Expands to 3.86%, Declares $0.31 Dividend
EFSI sits 32% above its 52-week low of $31.44.
Summary
Eagle Financial reported Q2 net income of $5.0M ($0.92 EPS), boosted by a $3.5M pre-tax gain on the sale of Bearing Insurance Group. Excluding that gain, adjusted net income was $2.2M, down 40.5% from Q1 and 57.7% from a year ago, reflecting a higher provision for credit losses. The net interest margin improved to 3.86% from 3.63% in Q1, and loans grew $39.5M (2.74%). The board declared a $0.31 quarterly dividend. The core earnings decline and credit provision bear watching, but the margin expansion and loan growth are positive signals for the franchise.
At the time of this announcement, EFSI was trading at $41.45 on NASDAQ in the Finance sector, with a market capitalization of approximately $224.3M. The 52-week trading range was $31.44 to $44.00. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: PR Newswire.