Eagle Bancorp, Inc. (NASDAQ:EGBN) fell 24.5% during trading on Monday . The stock traded as low as $46.20 and last traded at $49.95. 4,884,500 shares traded hands during trading, an increase of 3,548% from the average session volume of 133,911 shares. The stock had previously closed at $66.15.
A number of research firms have recently issued reports on EGBN. Keefe, Bruyette & Woods upgraded Eagle Bancorp from a “market perform” rating to an “outperform” rating in a research note on Monday. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Tuesday, September 19th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Eagle Bancorp in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $68.50.
The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1,707.19, a P/E ratio of 15.61 and a beta of 0.87.
In other Eagle Bancorp news, EVP Janice L. Williams sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $63.32, for a total transaction of $633,200.00. Following the completion of the sale, the executive vice president now owns 64,940 shares in the company, valued at approximately $4,112,000.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ronald D. Paul sold 800 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $64.40, for a total value of $51,520.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,553 shares of company stock valued at $9,932,774. 8.39% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Alps Advisors Inc. grew its stake in Eagle Bancorp by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,889 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 21 shares in the last quarter. Trillium Asset Management LLC lifted its holdings in Eagle Bancorp by 0.3% during the 2nd quarter. Trillium Asset Management LLC now owns 18,185 shares of the financial services provider’s stock worth $1,151,000 after buying an additional 48 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Eagle Bancorp by 1.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,751 shares of the financial services provider’s stock worth $427,000 after buying an additional 100 shares during the last quarter. Amalgamated Bank lifted its holdings in Eagle Bancorp by 7.5% during the 2nd quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock worth $256,000 after buying an additional 283 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Eagle Bancorp by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 36,428 shares of the financial services provider’s stock worth $2,306,000 after buying an additional 376 shares during the last quarter. Hedge funds and other institutional investors own 68.32% 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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