Zacks Investment Research upgraded shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) from a hold rating to a buy rating in a research note released on Friday morning. They currently have $68.00 price target on the financial services provider’s stock.
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. “
Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reiterated a hold rating and issued a $64.00 price target on shares of Eagle Bancorp in a research report on Friday, May 19th. BidaskClub upgraded Eagle Bancorp from a sell rating to a hold rating in a research report on Friday, June 30th. Finally, FIG Partners upgraded Eagle Bancorp from a market perform rating to an outperform rating and set a $66.00 price target on the stock in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $66.50.
Eagle Bancorp (NASDAQ:EGBN) opened at 60.80 on Friday. The stock’s 50 day moving average is $62.14 and its 200 day moving average is $60.85. Eagle Bancorp has a one year low of $47.20 and a one year high of $65.00. The firm has a market cap of $2.08 billion, a P/E ratio of 19.80 and a beta of 0.72.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Eagle Bancorp had a return on equity of 12.17% and a net margin of 31.79%. The firm had revenue of $76.72 million for the quarter, compared to analysts’ expectations of $75.41 million. During the same period in the prior year, the business posted $0.71 earnings per share. On average, equities research analysts expect that Eagle Bancorp will post $3.27 earnings per share for the current year.
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In other news, EVP Antonio F. Marquez sold 2,200 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $63.04, for a total transaction of $138,688.00. Following the sale, the executive vice president now owns 20,273 shares in the company, valued at $1,278,009.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Janice L. Williams sold 10,000 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $63.17, for a total value of $631,700.00. Following the sale, the executive vice president now owns 73,490 shares in the company, valued at approximately $4,642,363.30. The disclosure for this sale can be found here. Insiders sold 38,338 shares of company stock worth $2,411,790 over the last quarter. Company insiders own 8.39% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Eagle Bancorp by 5.4% during the second quarter. Vanguard Group Inc. now owns 2,523,941 shares of the financial services provider’s stock worth $159,766,000 after purchasing an additional 129,146 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in shares of Eagle Bancorp by 19.4% during the second quarter. Wasatch Advisors Inc. now owns 2,153,740 shares of the financial services provider’s stock worth $136,332,000 after purchasing an additional 350,204 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Eagle Bancorp by 5.3% during the second quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock worth $130,506,000 after purchasing an additional 103,343 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Eagle Bancorp by 1.9% during the second quarter. Victory Capital Management Inc. now owns 1,320,262 shares of the financial services provider’s stock worth $83,573,000 after purchasing an additional 25,022 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Eagle Bancorp by 23.5% during the second quarter. Jennison Associates LLC now owns 1,044,733 shares of the financial services provider’s stock worth $66,132,000 after purchasing an additional 198,608 shares during the last quarter. Institutional investors own 68.17% 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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