Keefe, Bruyette & Woods Upgrades Eagle Bancorp (EGBN) to Outperform

Eagle Bancorp (NASDAQ:EGBN) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday.

Several other analysts have also weighed in on the company. Zacks Investment Research lowered Eagle Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Boenning Scattergood reiterated a “buy” rating on shares of Eagle Bancorp in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Eagle Bancorp has an average rating of “Buy” and a consensus price target of $68.50.

Shares of Eagle Bancorp (EGBN) opened at $56.90 on Monday. The firm has a market capitalization of $1,951.56, a PE ratio of 17.84 and a beta of 0.87. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05. Eagle Bancorp has a 12 month low of $46.20 and a 12 month high of $69.80.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. The business had revenue of $71.94 million for the quarter, compared to analyst estimates of $72.66 million. Eagle Bancorp had a return on equity of 12.37% and a net margin of 32.40%. Eagle Bancorp’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. equities analysts predict that Eagle Bancorp will post 3.34 EPS for the current fiscal year.

In other Eagle Bancorp news, CEO Ronald D. Paul sold 3,140 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $62.19, for a total value of $195,276.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ronald D. Paul sold 15,000 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $67.46, for a total value of $1,011,900.00. The disclosure for this sale can be found here. Insiders sold 152,553 shares of company stock valued at $9,932,774 over the last quarter. Corporate insiders own 8.39% of the company’s stock.

A number of institutional investors have recently bought and sold shares of EGBN. Wasatch Advisors Inc. raised its position in Eagle Bancorp by 19.4% in the second quarter. Wasatch Advisors Inc. now owns 2,153,740 shares of the financial services provider’s stock valued at $136,332,000 after purchasing an additional 350,204 shares during the last quarter. Jennison Associates LLC raised its position in shares of Eagle Bancorp by 23.7% during the third quarter. Jennison Associates LLC now owns 1,291,987 shares of the financial services provider’s stock worth $86,628,000 after acquiring an additional 247,254 shares during the last quarter. Vanguard Group Inc. raised its position 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 acquiring an additional 129,146 shares during the last quarter. BlackRock Inc. raised its position 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 acquiring an additional 103,343 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Eagle Bancorp by 5.0% during the third quarter. Victory Capital Management Inc. now owns 1,386,541 shares of the financial services provider’s stock worth $92,968,000 after acquiring an additional 66,279 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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