Keefe, Bruyette & Woods upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a market perform rating to an outperform rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports.
Several other analysts have also commented on the company. Zacks Investment Research lowered Eagle Bancorp from a buy rating to a hold rating in a report on Thursday, September 7th. Boenning Scattergood reaffirmed a buy rating on shares of Eagle Bancorp in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $68.50.
Shares of Eagle Bancorp (EGBN) opened at $56.45 on Monday. The company has a market capitalization of $1,944.73, a price-to-earnings ratio of 17.78 and a beta of 0.87. Eagle Bancorp has a fifty-two week low of $46.20 and a fifty-two week high of $69.80. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23.
Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Eagle Bancorp had a return on equity of 12.37% and a net margin of 32.40%. The company had revenue of $71.94 million during the quarter, compared to analyst estimates of $72.66 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. Eagle Bancorp’s revenue was up 11.1% compared to the same quarter last year. sell-side analysts expect that Eagle Bancorp will post 3.34 earnings per share for the current year.
In other news, CEO Ronald D. Paul sold 15,000 shares of the business’s stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $67.46, for a total value of $1,011,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ronald D. Paul sold 16,486 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $63.60, for a total value of $1,048,509.60. The disclosure for this sale can be found here. Insiders have sold 152,553 shares of company stock worth $9,932,774 over the last quarter. 8.39% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in EGBN. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 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 acquiring an additional 1,162 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of 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 worth $182,000 after buying an additional 800 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of 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 worth $223,000 after buying an additional 1,177 shares in the last quarter. Zions Bancorporation purchased a new stake in shares of Eagle Bancorp in the third quarter worth about $231,000. Finally, Amalgamated Bank lifted its position in shares of Eagle Bancorp by 7.5% in the second quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock worth $256,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds own 68.32% 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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