Eagle Bancorp, Inc. (EGBN) Rating Lowered to Hold at Zacks Investment Research

Eagle Bancorp, Inc. (NASDAQ:EGBN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, May 12th.

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 research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $64.00 price objective on shares of Eagle Bancorp in a research note on Wednesday, April 5th. Sandler O’Neill raised shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Thursday, February 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $66.00.

Eagle Bancorp (NASDAQ:EGBN) traded up 0.56% during trading on Friday, hitting $63.35. The stock had a trading volume of 371,087 shares. Eagle Bancorp has a 52-week low of $45.07 and a 52-week high of $64.94. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 21.33 and a beta of 0.68. The firm’s 50-day moving average price is $59.63 and its 200-day moving average price is $60.27.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Tuesday, April 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.03. Eagle Bancorp had a net margin of 31.55% and a return on equity of 12.15%. The company had revenue of $73 million during the quarter, compared to analysts’ expectations of $68.19 million. During the same period last year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Analysts predict that Eagle Bancorp will post $3.19 EPS for the current fiscal year.

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In related news, Director Leland M. Weinstein sold 8,295 shares of Eagle Bancorp stock in a transaction on Friday, June 9th. The shares were sold at an average price of $62.22, for a total transaction of $516,114.90. Following the transaction, the director now owns 72,469 shares in the company, valued at approximately $4,509,021.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $290,150.00. Following the transaction, the chief financial officer now owns 4,935 shares in the company, valued at approximately $286,378.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,227 shares of company stock worth $1,053,863. 8.39% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC increased its stake in Eagle Bancorp by 7.3% in the third quarter. HighTower Advisors LLC now owns 45,710 shares of the financial services provider’s stock valued at $2,253,000 after buying an additional 3,112 shares during the period. Citadel Advisors LLC purchased a new stake in Eagle Bancorp during the third quarter valued at about $484,000. California State Teachers Retirement System increased its stake in Eagle Bancorp by 0.9% in the third quarter. California State Teachers Retirement System now owns 64,732 shares of the financial services provider’s stock valued at $3,193,000 after buying an additional 600 shares during the period. SG Americas Securities LLC purchased a new stake in Eagle Bancorp during the third quarter valued at about $249,000. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Eagle Bancorp by 15.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 940,377 shares of the financial services provider’s stock valued at $46,389,000 after buying an additional 122,319 shares during the period. Institutional investors and hedge funds own 67.02% of the company’s stock.

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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