Zacks Investment Research Lowers Entegra Financial (ENFC) to Hold

Entegra Financial (NASDAQ:ENFC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

According to Zacks, “Entegra Financial Corp. is a municipal bank. It operates as the holding company of Macon Bank. The Company offers a range of deposit accounts, including savings accounts, certificates of deposit, money market accounts, commercial and regular checking accounts, and individual retirement accounts. It invests primarily in loans secured by real estate, including commercial real estate loans, one-to four-family residential loans, construction loans, home equity loans and lines of credit. Entegra Financial Corp. is based in United States. “

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Separately, ValuEngine lowered shares of Entegra Financial from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Entegra Financial currently has a consensus rating of “Hold” and an average price target of $30.67.

Shares of Entegra Financial (NASDAQ ENFC) traded up $0.70 during trading on Monday, reaching $29.15. 18,433 shares of the company’s stock traded hands, compared to its average volume of 11,214. The company has a market cap of $195.98, a price-to-earnings ratio of 59.49 and a beta of 0.29. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.96 and a quick ratio of 0.95. Entegra Financial has a 12-month low of $22.00 and a 12-month high of $30.70.

Entegra Financial (NASDAQ:ENFC) last announced its quarterly earnings results on Thursday, January 18th. The bank reported $0.43 earnings per share (EPS) for the quarter. The firm had revenue of $13.61 million for the quarter, compared to analyst estimates of $13.18 million. Entegra Financial had a net margin of 5.28% and a return on equity of 6.93%. sell-side analysts forecast that Entegra Financial will post 2.1 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Entegra Financial by 14.7% in the 4th quarter. Bank of New York Mellon Corp now owns 24,520 shares of the bank’s stock valued at $717,000 after buying an additional 3,139 shares during the period. Deutsche Bank AG increased its holdings in Entegra Financial by 31.4% in the 4th quarter. Deutsche Bank AG now owns 15,433 shares of the bank’s stock valued at $449,000 after buying an additional 3,692 shares during the period. Macquarie Group Ltd. increased its holdings in Entegra Financial by 337.9% in the 4th quarter. Macquarie Group Ltd. now owns 6,130 shares of the bank’s stock valued at $179,000 after buying an additional 4,730 shares during the period. Bessemer Group Inc. increased its holdings in Entegra Financial by 71.0% in the 4th quarter. Bessemer Group Inc. now owns 11,800 shares of the bank’s stock valued at $345,000 after buying an additional 4,900 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Entegra Financial by 11,400.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,325 shares of the bank’s stock valued at $144,000 after purchasing an additional 6,270 shares in the last quarter. 48.52% of the stock is currently owned by hedge funds and other institutional investors.

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About Entegra Financial

Entegra Financial Corp. operates as the bank holding company for Entegra Bank that provides various retail and commercial banking products and services in the United States. The company offers deposit accounts, including savings accounts, commercial and regular checking accounts, money market accounts, and individual retirement accounts, as well as certificates of deposit.

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