Zacks Investment Research upgraded shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) from a hold rating to a buy rating in a research note published on Monday. Zacks Investment Research currently has $66.00 price objective on the financial services provider’s stock.
According to Zacks, “EAGLE BANCORP is the holding company for EagleBank. The Bank is headquartered in Bethesda, Maryland, and conducts full service commercial banking services through nine offices, located in Montgomery County, Maryland and Washington, D.C. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace. “
Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods reissued a hold rating and set a $64.00 price objective on shares of Eagle Bancorp in a research note on Wednesday, April 5th. Sandler O’Neill raised Eagle Bancorp from a hold rating to a buy rating and set a $68.00 price objective for the company in a research note on Thursday, February 9th.
Shares of Eagle Bancorp (NASDAQ:EGBN) traded down 0.26% on Monday, reaching $56.70. 10,333 shares of the company were exchanged. The firm has a market capitalization of $1.93 billion, a PE ratio of 19.09 and a beta of 0.71. The stock’s 50-day moving average is $59.09 and its 200 day moving average is $59.27. Eagle Bancorp has a 12-month low of $45.07 and a 12-month high of $64.94.
Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. The firm had revenue of $73 million during the quarter, compared to analyst estimates of $68.19 million. Eagle Bancorp had a return on equity of 12.39% and a net margin of 31.21%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, analysts forecast that Eagle Bancorp will post $3.19 EPS for the current year.
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In other Eagle Bancorp news, CFO James H. Langmead sold 5,000 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $58.03, for a total value of $290,150.00. Following the completion of the transaction, the chief financial officer now owns 4,935 shares in the company, valued at $286,378.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.99% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of EGBN. Allianz Asset Management AG increased its position in Eagle Bancorp by 22.7% in the fourth quarter. Allianz Asset Management AG now owns 356,508 shares of the financial services provider’s stock worth $21,729,000 after buying an additional 65,906 shares during the period. Congress Asset Management Co. MA purchased a new position in Eagle Bancorp during the fourth quarter worth about $551,000. HBK Investments L P purchased a new position in Eagle Bancorp during the third quarter worth about $365,000. Brown Advisory Inc. increased its position in Eagle Bancorp by 2.0% in the fourth quarter. Brown Advisory Inc. now owns 160,249 shares of the financial services provider’s stock worth $9,767,000 after buying an additional 3,133 shares during the period. Finally, Norges Bank purchased a new position in Eagle Bancorp during the fourth quarter worth about $14,529,000. Institutional investors and hedge funds own 66.21% of the company’s stock.
About Eagle Bancorp
Eagle Bancorp, Inc is a bank holding company for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank. As of December 31, 2016, the Bank operated 21 banking offices: seven in Montgomery County, Maryland; five located in the District of Columbia, and nine in Northern Virginia.
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