Zacks Investment Research cut shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) from a buy rating to a hold rating in a research report released on Tuesday, June 27th.
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. “
Several other research analysts also recently weighed in on the stock. BidaskClub raised shares of Eagle Bancorp from a strong sell rating to a sell rating in a research report on Saturday, June 10th. FIG Partners raised shares of Eagle Bancorp from a market perform rating to an outperform rating and set a $66.00 target price on the stock in a research report on Monday, May 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $64.00 price objective on shares of Eagle Bancorp in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $67.25.
Shares of Eagle Bancorp (NASDAQ EGBN) traded down 0.48% during trading on Tuesday, hitting $61.75. 44,749 shares of the company traded hands. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 20.11 and a beta of 0.71. The firm has a 50 day moving average price of $62.71 and a 200-day moving average price of $60.56. Eagle Bancorp has a one year low of $47.20 and a one year high of $65.00.
Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.04. The business had revenue of $76.72 million for the quarter, compared to the consensus estimate of $75.41 million. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.39%. During the same period last year, the firm posted $0.71 earnings per share. Analysts predict that Eagle Bancorp will post $3.27 EPS for the current year.
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In related news, CEO Ronald D. Paul sold 706 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $64.12, for a total transaction of $45,268.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ronald D. Paul sold 7,791 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $63.50, for a total transaction of $494,728.50. The disclosure for this sale can be found here. Insiders have sold 32,924 shares of company stock worth $2,074,098 over the last ninety days. 8.39% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in Eagle Bancorp by 13.1% in the first quarter. Wells Fargo & Company MN now owns 105,023 shares of the financial services provider’s stock worth $6,270,000 after buying an additional 12,196 shares during the period. Kalmar Investments Inc. DE acquired a new stake in Eagle Bancorp during the first quarter worth about $2,070,000. Profit Investment Management LLC boosted its stake in Eagle Bancorp by 24.0% in the first quarter. Profit Investment Management LLC now owns 29,195 shares of the financial services provider’s stock worth $1,743,000 after buying an additional 5,646 shares during the period. Fisher Asset Management LLC boosted its stake in Eagle Bancorp by 35.5% in the first quarter. Fisher Asset Management LLC now owns 62,098 shares of the financial services provider’s stock worth $3,707,000 after buying an additional 16,259 shares during the period. Finally, Creative Planning boosted its stake in Eagle Bancorp by 258.7% in the first quarter. Creative Planning now owns 45,073 shares of the financial services provider’s stock worth $2,691,000 after buying an additional 32,508 shares during the period. Hedge funds and other institutional investors own 66.90% of the company’s stock.
Eagle Bancorp Company Profile
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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