1. Eagle Financial Services Inc (NASDAQ:EFSI)
Number of Insiders Buying: 21
Eagle Financial is the bank holding company for Bank of Clarke, which provides a plethora of retail and commercial banking products and services. It operates in three segments – Community Banking, Marine Lending, and Wealth Management. The bank’s commercial banking business consists of attracting deposits from the general public and investing those funds in commercial, consumer, and real estate loans and corporate, municipal, and U.S. government agency securities. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation to the extent permitted by law.
On February 7, 21 insiders acquired a total of around $506,720 worth of Eagle Financial shares at a price of $32 per share. These purchases came as part of the previously announced underwritten public offering of 1,562,500 shares of its common stock. The company said it plans to use the net proceeds from this offering for general corporate practices, which may include balance sheet restructuring through the repositioning of its available-for-sale debt securities portfolio.
On January 22, 2025, the company’s board of directors announced a quarterly common stock cash dividend of $0.31 per common share.
For the fourth quarter of 2024, Eagle Financial Services reported a net income of $6.2 million, compared to $3.4 million for the third quarter of 2024.
The stock is currently trading at $32.77, having gone down 9.97% year-to-date. Over the past 12 months, its shares gained 9.27%.
Overall, EFSI is first among the 10 stocks insiders are buying this year. While we acknowledge the potential of EFSI, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EFSI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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