Zacks Investment Research cut shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) from a buy rating to a hold rating in a research report sent to investors on Friday morning.
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 equities research analysts have also recently issued research reports about the stock. Sandler O’Neill raised shares of Eagle Bancorp from a hold rating to a buy rating and set a $68.00 price target on the stock in a research note on Thursday, February 9th. Keefe, Bruyette & Woods reissued a hold rating and issued a $64.00 price target on shares of Eagle Bancorp in a research note on Wednesday, April 5th.
Eagle Bancorp (NASDAQ:EGBN) opened at 56.25 on Friday. The stock has a market cap of $1.92 billion, a P/E ratio of 18.94 and a beta of 0.71. Eagle Bancorp has a 12-month low of $45.07 and a 12-month high of $64.94. The stock has a 50 day moving average of $59.13 and a 200 day moving average of $59.29.
Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $73 million for the quarter, compared to analysts’ expectations of $68.19 million. Eagle Bancorp had a net margin of 31.21% and a return on equity of 12.39%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. On average, equities research analysts anticipate that Eagle Bancorp will post $3.19 earnings per share for the current fiscal year.
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In related news, CFO James H. Langmead sold 5,000 shares of Eagle Bancorp stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $58.03, for a total value of $290,150.00. Following the sale, the chief financial officer now owns 4,935 shares of the company’s stock, valued at approximately $286,378.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.99% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in EGBN. Oppenheimer Asset Management Inc. bought a new stake in Eagle Bancorp during the first quarter worth about $124,000. Fuller & Thaler Asset Management Inc. boosted its stake in Eagle Bancorp by 1,066.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,625 shares of the financial services provider’s stock worth $129,000 after buying an additional 2,400 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in Eagle Bancorp during the third quarter worth about $137,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Eagle Bancorp by 57.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,485 shares of the financial services provider’s stock worth $151,000 after buying an additional 910 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Eagle Bancorp during the first quarter worth about $158,000. 66.21% of the stock is currently owned by hedge funds and other institutional investors.
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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