Eagle Bancorp, Inc. (NASDAQ:EGBN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “
EGBN has been the subject of several other reports. BidaskClub upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. FIG Partners upgraded shares of Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 target price for the company in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Eagle Bancorp presently has an average rating of “Hold” and an average target price of $66.50.
Shares of Eagle Bancorp (EGBN) traded up 0.63% during mid-day trading on Monday, hitting $64.00. 102,200 shares of the stock were exchanged. The company has a market cap of $2.19 billion, a P/E ratio of 20.85 and a beta of 0.72. The stock’s 50-day moving average price is $62.27 and its 200-day moving average price is $60.85. Eagle Bancorp has a 52-week low of $47.20 and a 52-week high of $65.00.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.77 by $0.04. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.17%. The business had revenue of $76.72 million during the quarter, compared to analysts’ expectations of $75.41 million. During the same period in the previous year, the business posted $0.71 EPS. Equities research analysts anticipate that Eagle Bancorp will post $3.27 earnings per share for the current fiscal year.
In related news, CEO Ronald D. Paul sold 706 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $64.12, for a total value of $45,268.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Antonio F. Marquez sold 2,200 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $63.04, for a total transaction of $138,688.00. Following the completion of the transaction, the executive vice president now owns 20,273 shares of the company’s stock, valued at $1,278,009.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,557 shares of company stock valued at $4,269,429. Company insiders own 8.39% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. lifted its stake in shares of Eagle Bancorp by 0.3% in the 1st quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 10 shares during the period. Alps Advisors Inc. raised its position in Eagle Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,889 shares of the financial services provider’s stock worth $499,000 after acquiring an additional 21 shares during the period. First National Bank of Hutchinson raised its position in Eagle Bancorp by 0.3% during the second quarter. First National Bank of Hutchinson now owns 10,224 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 32 shares during the period. Trillium Asset Management LLC raised its position in Eagle Bancorp by 0.3% during the second quarter. Trillium Asset Management LLC now owns 18,185 shares of the financial services provider’s stock worth $1,151,000 after acquiring an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Eagle Bancorp by 1.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,751 shares of the financial services provider’s stock worth $427,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 68.05% 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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