Hovde Group Increases Entegra Financial Corp. (ENFC) Price Target to $32.00

Entegra Financial Corp. (NASDAQ:ENFC) had its price target lifted by investment analysts at Hovde Group from $27.00 to $32.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “outperform” rating on the bank’s stock. Hovde Group’s price target would suggest a potential upside of 16.15% from the company’s current price.

Shares of Entegra Financial Corp. (NASDAQ:ENFC) opened at 27.55 on Thursday. The stock’s 50 day moving average is $25.16 and its 200-day moving average is $23.82. Entegra Financial Corp. has a one year low of $18.10 and a one year high of $27.75. The company has a market cap of $177.92 million, a PE ratio of 23.75 and a beta of 0.32.

Entegra Financial Corp. (NASDAQ:ENFC) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Entegra Financial Corp. had a return on equity of 6.96% and a net margin of 16.06%. The business had revenue of $12.34 million for the quarter, compared to the consensus estimate of $12.86 million. Equities research analysts expect that Entegra Financial Corp. will post $1.32 earnings per share for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of the company. Spark Investment Management LLC grew its position in shares of Entegra Financial Corp. by 12.7% during the 2nd quarter. Spark Investment Management LLC now owns 15,100 shares of the bank’s stock worth $343,000 after buying an additional 1,700 shares in the last quarter. Castine Capital Management LLC boosted its position in Entegra Financial Corp. by 1.5% during the second quarter. Castine Capital Management LLC now owns 238,595 shares of the bank’s stock valued at $5,428,000 after purchasing an additional 3,595 shares in the last quarter. Acadian Asset Management LLC boosted its position in Entegra Financial Corp. by 10.8% during the second quarter. Acadian Asset Management LLC now owns 45,424 shares of the bank’s stock valued at $1,034,000 after purchasing an additional 4,418 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Entegra Financial Corp. by 11,400.0% during the second 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. Finally, New York State Common Retirement Fund bought a new stake in Entegra Financial Corp. during the second quarter valued at about $152,000. 49.89% of the stock is currently owned by institutional investors and hedge funds.

About Entegra Financial Corp.

Entegra Financial Corp. is the holding company for Entegra Bank. The Company provides a range of financial services through full-service offices located in Cherokee, Henderson, Jackson, Macon, Polk and Transylvania counties, North Carolina and Anderson, Greenville, and Spartanburg counties, South Carolina.

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