Eagle Bancorp (NASDAQ:EGBN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, January 3rd. The firm currently has a $65.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 5.35% from the company’s previous close.
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 equities analysts also recently commented on EGBN. Keefe, Bruyette & Woods reissued a “hold” rating and set a $64.00 target price on shares of Eagle Bancorp in a research report on Tuesday, October 3rd. Boenning Scattergood reissued a “buy” rating on shares of Eagle Bancorp in a research report on Thursday, October 19th. Finally, BidaskClub raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $66.25.
Eagle Bancorp (NASDAQ:EGBN) traded up $1.20 during midday trading on Wednesday, hitting $61.70. 115,900 shares of the stock were exchanged, compared to its average volume of 171,450. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $2,070.00, a P/E ratio of 19.40 and a beta of 0.87. Eagle Bancorp has a 1-year low of $46.20 and a 1-year high of $69.80.
Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results 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. The firm had revenue of $71.94 million for 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%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. analysts anticipate that Eagle Bancorp will post 3.34 EPS for the current fiscal year.
In other news, Director Harvey Michael Goodman sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $67.00, for a total value of $201,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dudley C. Dworken sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $67.00, for a total value of $134,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,959 shares of company stock worth $2,682,251. 8.39% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System lifted its stake in shares of Eagle Bancorp by 6.7% in the third quarter. California Public Employees Retirement System now owns 41,068 shares of the financial services provider’s stock valued at $2,754,000 after buying an additional 2,578 shares during the period. Zions Bancorporation bought a new position in Eagle Bancorp during the third quarter worth about $231,000. Oppenheimer Asset Management Inc. lifted its stake in Eagle Bancorp by 38.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 3,966 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 1,092 shares during the period. Dimensional Fund Advisors LP lifted its stake in Eagle Bancorp by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 849,889 shares of the financial services provider’s stock worth $56,984,000 after purchasing an additional 43,512 shares during the period. Finally, Moody Aldrich Partners LLC lifted its stake in Eagle Bancorp by 41.5% during the third quarter. Moody Aldrich Partners LLC now owns 24,557 shares of the financial services provider’s stock worth $1,647,000 after purchasing an additional 7,197 shares during the period. Institutional investors and hedge funds own 68.23% of the company’s stock.
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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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