Eagle Bancorp (EGBN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Eagle Bancorp (NASDAQ:EGBN) from a buy rating to a hold rating in a research report report published on Monday.

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. “

A number of other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods reissued a buy rating and set a $66.00 price target on shares of Eagle Bancorp in a research note on Friday, December 22nd. BidaskClub raised shares of Eagle Bancorp from a sell rating to a hold rating in a research note on Friday, December 15th. Finally, Boenning Scattergood reissued a buy rating on shares of Eagle Bancorp in a research note on Thursday, October 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Eagle Bancorp has an average rating of Buy and a consensus price target of $66.25.

Eagle Bancorp (NASDAQ EGBN) opened at $59.00 on Monday. Eagle Bancorp has a 12-month low of $46.20 and a 12-month high of $69.80. The stock has a market cap of $2,025.04, a P/E ratio of 18.32 and a beta of 0.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. The business had revenue of $71.94 million during the quarter, compared to the consensus estimate of $72.66 million. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.37%. Eagle Bancorp’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. research analysts anticipate that Eagle Bancorp will post 3.34 EPS for the current fiscal year.

In other Eagle Bancorp news, CEO Ronald D. Paul sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $66.47, for a total value of $332,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ronald D. Paul sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $67.46, for a total transaction of $1,011,900.00. The disclosure for this sale can be found here. Insiders sold 39,959 shares of company stock valued at $2,682,251 in the last ninety days. Insiders own 8.39% of the company’s stock.

A number of large investors have recently modified their holdings of EGBN. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Eagle Bancorp by 158.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 1,162 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Eagle Bancorp by 38.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,874 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 800 shares in the last quarter. D.A. Davidson & CO. increased its stake in Eagle Bancorp by 49.9% in the second quarter. D.A. Davidson & CO. now owns 3,537 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 1,177 shares in the last quarter. Zions Bancorporation bought a new stake in Eagle Bancorp in the third quarter valued at approximately $231,000. Finally, Amalgamated Bank increased its stake in Eagle Bancorp by 7.5% in the second quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 283 shares in the last quarter. 68.23% of the stock is owned by hedge funds and other institutional investors.

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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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