Eagle Financial Q2 adjusted net income falls on higher credit loss provision

The current average analyst rating on the shares is buy, with 2 strong buy or buy ratings, 1 hold rating and no sell or strong sell ratings.

The average consensus recommendation for the banks peer group is buy. Wall Street's median 12-month price target for Eagle Financial Services Inc is $43.00, about 4.1% above its July 22 closing price of $41.30.

• Loan growth and lower funding costs - Net interest income and margin improved due to loan growth and reduced interest expense following the paydown of FHLB advances and runoff of higher-cost deposits.
• Higher provision for credit losses - Adjusted net income declined primarily due to a higher provision for credit losses, driven by increased charge-offs and higher reserves for credit quality changes.
• Nonrecurring asset sale gain - Noninterest income was elevated by a one-time gain from the sale of its membership interest in Bearing Insurance Group.