First Midwest Bank Trust Division Purchases 2,925 Shares of Eaton Vance Corp. (EV)
First Midwest Bank Trust Division raised its stake in Eaton Vance Corp. (NYSE:EV) by 43.6% during the second quarter, Holdings Channel reports. The firm owned 9,641 shares of the company’s stock after buying an additional 2,925 shares during the period. First Midwest Bank Trust Division’s holdings in Eaton Vance Corp. were worth $341,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in EV. Americafirst Capital Management LLC acquired a new position in shares of Eaton Vance Corp. during the second quarter valued at $102,000. IFP Advisors Inc increased its position in shares of Eaton Vance Corp. by 29.1% in the first quarter. IFP Advisors Inc now owns 3,532 shares of the company’s stock valued at $118,000 after buying an additional 797 shares during the period. Strs Ohio increased its position in shares of Eaton Vance Corp. by 4,947.9% in the second quarter. Strs Ohio now owns 3,685 shares of the company’s stock valued at $130,000 after buying an additional 3,612 shares during the period. Creative Planning increased its position in shares of Eaton Vance Corp. by 8.4% in the second quarter. Creative Planning now owns 4,875 shares of the company’s stock valued at $172,000 after buying an additional 378 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Eaton Vance Corp. during the second quarter valued at $176,000. Hedge funds and other institutional investors own 70.88% of the company’s stock.
Shares of Eaton Vance Corp. (NYSE:EV) traded down 1.41% during trading on Friday, hitting $38.37. The stock had a trading volume of 500,134 shares. The stock’s 50-day moving average is $39.19 and its 200-day moving average is $36.56. Eaton Vance Corp. has a 12-month low of $26.44 and a 12-month high of $40.36. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 18.43 and a beta of 1.76.
Eaton Vance Corp. (NYSE:EV) last posted its earnings results on Wednesday, August 17th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The firm had revenue of $341.20 million for the quarter. Eaton Vance Corp. had a return on equity of 39.06% and a net margin of 17.83%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.57 EPS. On average, equities research analysts expect that Eaton Vance Corp. will post $2.13 EPS for the current year.
EV has been the topic of several research analyst reports. Zacks Investment Research upgraded Eaton Vance Corp. from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Friday, September 16th. Jefferies Group boosted their target price on Eaton Vance Corp. from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Tuesday, August 16th. Credit Suisse Group AG restated a “hold” rating and set a $37.00 target price on shares of Eaton Vance Corp. in a research note on Thursday, September 1st. Finally, Keefe, Bruyette & Woods boosted their target price on Eaton Vance Corp. from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, August 19th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Eaton Vance Corp. has a consensus rating of “Hold” and a consensus price target of $37.54.
In related news, CEO Matthew J. Witkos sold 94,408 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $40.08, for a total value of $3,783,872.64. Following the transaction, the chief executive officer now owns 197,077 shares of the company’s stock, valued at $7,898,846.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dorothy E. Puhy sold 6,197 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $38.75, for a total value of $240,133.75. Following the completion of the transaction, the director now directly owns 15,787 shares in the company, valued at approximately $611,746.25. The disclosure for this sale can be found here.
About Eaton Vance Corp.
Eaton Vance Corp. is engaged in business of managing investment funds and providing investment management and advisory services to individuals and institutions. The Company seeks to develop and sustain management expertise across a range of investment disciplines, and offer investment products and services through various distribution channels.
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