Eagle Bancorp (NASDAQ:EGBN) Rating Lowered to Sell at StockNews.com

Eagle Bancorp (NASDAQ:EGBN) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Eagle Bancorp Price Performance

NASDAQ EGBN opened at $23.49 on Wednesday. Eagle Bancorp has a 52 week low of $16.72 and a 52 week high of $34.75. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The stock has a market cap of $703.06 million, a price-to-earnings ratio of 7.12 and a beta of 1.02. The company has a 50-day moving average price of $23.96 and a two-hundred day moving average price of $24.10.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.09). The firm had revenue of $75.89 million during the quarter, compared to the consensus estimate of $75.67 million. Eagle Bancorp had a return on equity of 8.12% and a net margin of 15.54%. Analysts forecast that Eagle Bancorp will post 2.32 EPS for the current year.

Insider Buying and Selling

In related news, EVP Lindsey S. Rheaume sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $22.98, for a total transaction of $505,560.00. Following the completion of the sale, the executive vice president now directly owns 9,075 shares in the company, valued at $208,543.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eagle Bancorp

Several hedge funds have recently made changes to their positions in EGBN. Citigroup Inc. lifted its position in shares of Eagle Bancorp by 8.5% in the 1st quarter. Citigroup Inc. now owns 28,757 shares of the financial services provider’s stock valued at $1,639,000 after acquiring an additional 2,251 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Eagle Bancorp by 56.3% in the 1st quarter. MetLife Investment Management LLC now owns 17,213 shares of the financial services provider’s stock valued at $981,000 after acquiring an additional 6,200 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Eagle Bancorp by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,541 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 3,395 shares in the last quarter. BlackRock Inc. lifted its position in shares of Eagle Bancorp by 1.7% in the 1st quarter. BlackRock Inc. now owns 4,708,887 shares of the financial services provider’s stock valued at $268,453,000 after acquiring an additional 77,845 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Eagle Bancorp by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,458,795 shares of the financial services provider’s stock valued at $197,186,000 after acquiring an additional 67,255 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.