Tearsheet

Eagle Financial Services (EFSI)


Market Price (3/15/2026): $32.43 | Market Cap: $174.4 Mil
Sector: Financials | Industry: Regional Banks

Eagle Financial Services (EFSI)


Market Price (3/15/2026): $32.43
Market Cap: $174.4 Mil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.3%, FCF Yield is 12%
Weak multi-year price returns
2Y Excs Rtn is -20%, 3Y Excs Rtn is -28%
 
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -90%
  
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34%
  
3 Low stock price volatility
Vol 12M is 26%
  
4 Megatrend and thematic drivers
Megatrends include Community Financial Services. Themes include Local Economic Growth Facilitation, Localized Financial Counseling, and Regional Deposit Solutions.
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.3%, FCF Yield is 12%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -90%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 36%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 34%
3 Low stock price volatility
Vol 12M is 26%
4 Megatrend and thematic drivers
Megatrends include Community Financial Services. Themes include Local Economic Growth Facilitation, Localized Financial Counseling, and Regional Deposit Solutions.
5 Weak multi-year price returns
2Y Excs Rtn is -20%, 3Y Excs Rtn is -28%

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Eagle Financial Services (EFSI) stock has lost about 15% since 11/30/2025 because of the following key factors:

1. Q4 2025 Earnings Miss and Net Income Decline.

Eagle Financial Services reported Q4 2025 earnings per share (EPS) of $0.81, missing analyst estimates of $0.88 by approximately 8.0%. Concurrently, net income decreased to $4.3 million for the fourth quarter, a 23.2% decline from $5.6 million in Q3 2025, primarily due to lower net interest income and higher salaries and benefits resulting from investments in personnel.

2. Deterioration in Profitability and Operational Efficiency.

The company experienced a significant drop in its trailing twelve-month net profit margin, which fell from 21.9% a year prior to 12.5%. This was coupled with a worsening efficiency ratio, increasing to 70.3% in Q4 2025 from 64.1% in Q3 2025, reflecting an 8% increase in noninterest expenses, mainly attributed to higher salaries and employee benefits.

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Stock Movement Drivers

Fundamental Drivers

The -12.8% change in EFSI stock from 11/30/2025 to 3/14/2026 was primarily driven by a -12.8% change in the company's P/E Multiple.
(LTM values as of)113020253142026Change
Stock Price ($)37.2732.50-12.8%
Change Contribution By: 
Total Revenues ($ Mil)64640.0%
Net Income Margin (%)15.8%15.8%0.0%
P/E Multiple19.917.4-12.8%
Shares Outstanding (Mil)550.0%
Cumulative Contribution-12.8%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/14/2026
ReturnCorrelation
EFSI-12.8% 
Market (SPY)-3.1%22.2%
Sector (XLF)-8.3%39.8%

Fundamental Drivers

The -11.7% change in EFSI stock from 8/31/2025 to 3/14/2026 was primarily driven by a -30.7% change in the company's P/E Multiple.
(LTM values as of)83120253142026Change
Stock Price ($)36.8132.50-11.7%
Change Contribution By: 
Total Revenues ($ Mil)59647.9%
Net Income Margin (%)13.4%15.8%18.0%
P/E Multiple25.017.4-30.7%
Shares Outstanding (Mil)550.0%
Cumulative Contribution-11.7%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/14/2026
ReturnCorrelation
EFSI-11.7% 
Market (SPY)3.0%30.6%
Sector (XLF)-9.1%47.1%

Fundamental Drivers

The 3.1% change in EFSI stock from 2/28/2025 to 3/14/2026 was primarily driven by a 79.0% change in the company's P/E Multiple.
(LTM values as of)22820253142026Change
Stock Price ($)31.5332.503.1%
Change Contribution By: 
Total Revenues ($ Mil)6464-0.5%
Net Income Margin (%)18.0%15.8%-12.5%
P/E Multiple9.717.479.0%
Shares Outstanding (Mil)45-33.9%
Cumulative Contribution3.1%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/14/2026
ReturnCorrelation
EFSI3.1% 
Market (SPY)12.4%49.0%
Sector (XLF)-5.3%51.5%

Fundamental Drivers

The 41.6% change in EFSI stock from 2/28/2023 to 3/14/2026 was primarily driven by a 195.1% change in the company's P/E Multiple.
(LTM values as of)22820233142026Change
Stock Price ($)22.9532.5041.6%
Change Contribution By: 
Total Revenues ($ Mil)59647.4%
Net Income Margin (%)22.9%15.8%-31.1%
P/E Multiple5.917.4195.1%
Shares Outstanding (Mil)35-35.1%
Cumulative Contribution41.6%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/14/2026
ReturnCorrelation
EFSI41.6% 
Market (SPY)73.4%40.8%
Sector (XLF)43.1%44.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
EFSI Return0%0%0%26%36%-17%42%
Peers Return41%1%-15%2%18%1%47%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
EFSI Win Rate0%0%0%8%67%0% 
Peers Win Rate58%53%45%45%62%40% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
EFSI Max Drawdown0%0%0%0%-2%-17% 
Peers Max Drawdown-1%-18%-42%-29%-16%-4% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: BRBS, FVCB, VABK, CFFI, NKSH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique KeyEventEFSIS&P 500
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-29.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven42.5%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven1,780 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-10.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven11.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven1,957 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-63.0%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven170.5%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven3,294 days1,480 days

Compare to BRBS, FVCB, VABK, CFFI, NKSH

In The Past

Eagle Financial Services's stock fell -29.8% during the 2020 Covid Pandemic from a high on 2/21/2020. A -29.8% loss requires a 42.5% gain to breakeven.

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Asset Allocation

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About Eagle Financial Services (EFSI)

Eagle Financial Services, Inc. operates as the bank holding company for Bank of Clarke County that provides various retail and commercial banking products and services in the Shenandoah Valley and Northern Virginia. The company's deposit products include checking, NOW, money market, and regular savings accounts; and demand and time deposits. Its loan portfolio comprises one-to-four-family residential real estate, commercial real estate, construction and land development, and commercial and industrial loans, as well as secured and unsecured consumer loans, which include personal installment loans, personal lines of credit, automobile loans, and credit card loans. The company also offers personal and retirement plan services; investment services comprising tax-deferred annuities, IRAs and rollovers, mutual funds, retirement plans, college savings plans, life insurance, long term care insurance, fixed income investing, brokerage CDs, and full service or discount brokerage services; non-deposit investment products; and title insurance products. In addition, it provides ATM and debit cards; and telephone, internet, and mobile banking services, as well as other commercial deposit account services, such as ACH origination and remote deposit capture services. The company operates through twelve full-service branches, two loan production offices, one wealth management office, and one drive-through only facility, as well as 13 ATM locations in the Virginia communities of Berryville, Winchester, Boyce, Stephens City, Purcellville, Warrenton, Leesburg, Ashburn, and Fairfax. Eagle Financial Services, Inc. was founded in 1881 and is headquartered in Berryville, Virginia.

AI Analysis | Feedback

It's a full-service regional bank for Northern Virginia, similar to a smaller, community-focused version of PNC Bank.

Imagine a local version of Wells Fargo, offering everything from checking accounts to investment services, but operating exclusively in the Shenandoah Valley and Northern Virginia.

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  • Deposit Services: Facilitating savings and money management through various checking, savings, and time deposit accounts.
  • Lending Services: Providing a wide range of loans including residential, commercial, construction, industrial, and consumer loans.
  • Wealth Management & Investment Services: Offering financial planning, investment products, and insurance solutions for individuals and retirement plans.
  • Title Insurance: Providing insurance coverage to protect against financial loss due to defects in real estate titles.

AI Analysis | Feedback

Eagle Financial Services (EFSI), through its subsidiary Bank of Clarke County, serves a diverse customer base, encompassing both individual consumers and various types of businesses. Given the nature of a banking institution, its customer base is best described through categories rather than specific named companies.

The company's major customers fall into the following categories:

  1. Individual Consumers: This category includes individuals and households in the Shenandoah Valley and Northern Virginia who utilize retail banking products and services. These services include checking, NOW, money market, and regular savings accounts; demand and time deposits; one-to-four-family residential real estate loans; secured and unsecured consumer loans (such as personal installment loans, lines of credit, automobile loans, and credit card loans); personal and retirement plan services; and various investment and insurance products.
  2. Commercial Businesses: This category comprises businesses of varying sizes within its service areas that require commercial banking products and services. This includes commercial deposit accounts (like ACH origination and remote deposit capture), commercial and industrial loans for operational needs, and other financial services tailored for businesses.
  3. Real Estate Developers and Investors: A specialized segment of commercial customers, this category includes entities engaged in real estate development and investment. They are served through specific loan products such as commercial real estate loans and construction and land development loans.

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The clear emerging threat for Eagle Financial Services is the continued rise and increasing market penetration of digital-only banks (neobanks) and specialized fintech companies. These competitors leverage technology to offer banking products and services, including checking, savings, loans, and investment services, often with lower fees, higher interest rates, and more user-friendly mobile-first experiences, without the significant overhead associated with a traditional physical branch network. This trend directly challenges EFSI's established branch-based operating model, its ability to attract and retain customers who prefer digital interactions, and its competitive standing across its deposit, lending, and wealth management offerings.

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Latest Trefis Analyses

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Trade Ideas

Select ideas related to EFSI.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
NDAQ_2282026_Insider_Buying_45D_2Buy_200K02282026NDAQNasdaqInsiderInsider Buys 45DStrong Insider Buying
Companies with multiple insider buys in the last 45 days
0.0%0.0%0.0%
JEF_2272026_Dip_Buyer_ValueBuy02272026JEFJefferies FinancialDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
0.0%0.0%0.0%
PAYO_2272026_Dip_Buyer_High_CFO_Margins_ExInd_DE02272026PAYOPayoneer GlobalDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
0.0%0.0%0.0%
FOUR_2272026_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG02272026FOURShift4 PaymentsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
0.0%0.0%0.0%
COIN_2202026_Dip_Buyer_High_CFO_Margins_ExInd_DE02202026COINCoinbase GlobalDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
2.6%2.6%-6.5%

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

EFSIBRBSFVCBVABKCFFINKSHMedian
NameEagle Fi.Blue Rid.FVCBankc.Virginia.C&F Fina.National. 
Mkt Price32.503.8714.6638.7171.5037.0934.80
Mkt Cap0.20.30.30.20.20.20.2
Rev LTM649264571375364
Op Inc LTM-------
FCF LTM21122118221319
FCF 3Y Avg16162016311316
CFO LTM23142118241620
CFO 3Y Avg17172016331617

Growth & Margins

EFSIBRBSFVCBVABKCFFINKSHMedian
NameEagle Fi.Blue Rid.FVCBankc.Virginia.C&F Fina.National. 
Rev Chg LTM-0.5%-0.6%42.8%8.8%10.7%19.8%9.8%
Rev Chg 3Y Avg2.5%-15.0%1.9%-2.2%6.0%0.7%1.3%
Rev Chg Q27.0%-5.2%12.3%7.0%11.8%21.2%12.0%
QoQ Delta Rev Chg LTM7.9%-1.2%2.9%1.7%2.7%5.0%2.8%
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM35.9%14.9%33.0%32.1%17.8%30.8%31.4%
CFO/Rev 3Y Avg26.6%14.8%36.3%28.5%26.2%29.9%27.6%
FCF/Rev LTM33.6%13.0%32.9%31.3%16.1%24.6%27.9%
FCF/Rev 3Y Avg24.7%13.7%36.0%27.2%24.3%25.0%24.8%

Valuation

EFSIBRBSFVCBVABKCFFINKSHMedian
NameEagle Fi.Blue Rid.FVCBankc.Virginia.C&F Fina.National. 
Mkt Cap0.20.30.30.20.20.20.2
P/S2.73.74.13.71.74.53.7
P/EBIT-------
P/E17.431.812.411.78.618.114.9
P/CFO7.625.012.511.59.514.612.0
Total Yield7.4%3.1%8.1%12.1%14.2%7.6%7.8%
Dividend Yield1.6%0.0%0.0%3.6%2.6%2.1%1.8%
FCF Yield 3Y Avg13.1%25.1%8.0%7.8%13.4%6.7%10.6%
D/E0.40.50.10.20.50.00.3
Net D/E-0.90.1-0.80.1-1.3-0.3-0.5

Returns

EFSIBRBSFVCBVABKCFFINKSHMedian
NameEagle Fi.Blue Rid.FVCBankc.Virginia.C&F Fina.National. 
1M Rtn-15.6%-9.2%-6.1%-4.6%-8.7%-2.2%-7.4%
3M Rtn-17.3%-14.6%7.4%-3.0%-1.4%10.6%-2.2%
6M Rtn-10.7%-0.7%11.1%-4.0%4.0%26.3%1.6%
12M Rtn3.4%25.8%41.6%12.3%2.6%44.3%19.1%
3Y Rtn41.6%-59.9%31.3%15.7%34.9%19.8%25.6%
1M Excs Rtn-13.3%-7.4%-3.9%-2.2%-5.4%0.6%-4.7%
3M Excs Rtn-16.2%-10.8%14.0%0.3%3.4%18.0%1.8%
6M Excs Rtn-13.9%-2.6%6.8%-7.2%0.8%24.4%-0.9%
12M Excs Rtn-17.1%4.4%23.1%-8.0%-13.1%23.4%-1.8%
3Y Excs Rtn-28.1%-136.0%-61.7%-59.1%-35.9%-63.4%-60.4%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Single Segment  514337
Total  514337


Assets by Segment
$ Mil20242023202220212020
Community Banking1,5631,377   
Marine Lending261238   
Wealth Management1    
All Other12   
Eliminations00   
Total1,8261,617   


Price Behavior

Price Behavior
Market Price$32.50 
Market Cap ($ Bil)0.2 
First Trading Date08/27/2012 
Distance from 52W High-20.0% 
   50 Days200 Days
DMA Price$35.21$31.30
DMA Trendupdown
Distance from DMA-7.7%3.8%
 3M1YR
Volatility20.6%25.7%
Downside Capture104.7060.58
Upside Capture1.0953.08
Correlation (SPY)20.0%50.1%
EFSI Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta0.370.430.420.640.650.33
Up Beta-0.380.330.561.030.830.51
Down Beta-0.290.200.280.670.580.35
Up Capture5%-0%20%34%39%7%
Bmk +ve Days9203170142431
Stock +ve Days7142450115123
Down Capture155%116%70%69%60%30%
Bmk -ve Days12213054109320
Stock -ve Days14273670126133

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EFSI
EFSI3.9%25.6%0.11-
Sector ETF (XLF)3.6%19.3%0.0652.3%
Equity (SPY)19.6%18.9%0.8149.8%
Gold (GLD)71.9%26.3%2.05-4.4%
Commodities (DBC)19.3%17.3%0.8914.9%
Real Estate (VNQ)6.2%16.3%0.1945.5%
Bitcoin (BTCUSD)-15.3%44.2%-0.2518.7%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EFSI
EFSI-0.1%24.7%-0.07-
Sector ETF (XLF)9.3%18.7%0.3851.0%
Equity (SPY)13.1%17.0%0.6148.1%
Gold (GLD)24.1%17.3%1.14-4.6%
Commodities (DBC)11.2%19.0%0.4713.6%
Real Estate (VNQ)4.8%18.8%0.1644.4%
Bitcoin (BTCUSD)6.3%56.7%0.3316.7%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with EFSI
EFSI-1.6%26.1%-0.43-
Sector ETF (XLF)12.5%22.2%0.5230.9%
Equity (SPY)14.5%17.9%0.7033.8%
Gold (GLD)14.4%15.6%0.770.4%
Commodities (DBC)8.6%17.6%0.4014.3%
Real Estate (VNQ)5.6%20.7%0.2322.1%
Bitcoin (BTCUSD)67.4%66.8%1.078.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 215202616.3%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest6.2 days
Basic Shares Quantity5.4 Mil
Short % of Basic Shares1.5%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
1/26/2026-0.6%-4.2%-6.8%
10/23/20250.9%-1.2%-2.0%
7/24/2025-0.4%-1.4%8.9%
4/25/2025-5.9%-5.6%0.3%
1/27/20250.0%0.0%9.2%
10/25/20240.0%0.0%0.0%
7/26/20240.0%0.0%0.0%
4/26/20240.0%0.0%0.0%
...
SUMMARY STATS   
# Positive212022
# Negative342
Median Positive0.0%0.0%0.0%
Median Negative-0.6%-2.8%-4.4%
Max Positive0.9%0.0%9.2%
Max Negative-5.9%-5.6%-6.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202511/13/202510-Q
06/30/202508/13/202510-Q
03/31/202505/14/202510-Q
12/31/202403/31/202510-K
09/30/202411/14/202410-Q
06/30/202408/14/202410-Q
03/31/202405/15/202410-Q
12/31/202303/29/202410-K
09/30/202311/13/202310-Q
06/30/202308/14/202310-Q
03/31/202305/15/202310-Q
12/31/202203/29/202310-K
09/30/202211/10/202210-Q
06/30/202208/12/202210-Q
03/31/202205/12/202210-Q
12/31/202103/30/202210-K

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Braithwaite, Todd AEXECUTIVE OFFICERDirectSell1204202538.90562,178342,320Form
2Stokely, John D Jr DirectSell1030202536.60782,855489,299Form
3Stokely, John D Jr TRUSTEESell1030202536.605,815  Form
4Smith, Nicholas PeterEXECUTIVE OFFICERDirectBuy731202533.003039,999132,297Form
5Hill, Edward Iii DirectBuy612202529.931,00029,932116,737Form