Eastern Virginia Bankshares Inc. (EVBS) started the trading day on a down note, making it one of the worst performing stocks in the financial sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 22. Shares of EVBS have fallen 3.14% about 30 minutes into the session to $7.41 after closing the day prior at $7.65. It’s early, but the stock has traded as high as $7.56 and as low as $7.41 so far. Today’s quick decline has come with about 700 shares changing hands, compared to an average 30-day volume of 19,283 for Eastern Virginia Bankshares Inc.. The price is currently below the 30-day volume weighted average price of $7.47 for EVBS.
The share depreciation gives the company a market capitalization of $100.22 million based upon 13.1 million shares outstanding. It also means that EVBS has a price-to-book ratio of 0.82:1.
In the past 52 weeks, shares of EVBS have traded as low as $6.25 and as high as $8.12. Technical traders will take note that at $7.41, shares of EVBS are trading above their 200-day MA at $7.08 and below their 50-day MA at $7.57. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is EVBS?
Eastern Virginia Bankshares Inc is a bank holding company. Through its wholly-owned bank subsidiary, EVB, the Bank, provides personal and commercial banking services including commercial, consumer and real estate loans. The company’s 311 employees are led by CEO Joe A. Shearin from the corporate headquarters at 330 Hospital Road in Tappahannock, VA.
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