Eagle Bancorp (EGBN) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a hold rating to a buy rating in a report published on Wednesday morning. The firm currently has $65.00 price target on the financial services provider’s stock.

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 analysts have also issued research reports about the stock. BidaskClub raised shares of Eagle Bancorp from a sell rating to a hold rating in a research report on Friday, December 15th. Boenning Scattergood reissued a buy rating on shares of Eagle Bancorp in a research report on Thursday, October 19th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $64.00 price objective on shares of Eagle Bancorp in a research report on Tuesday, October 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $66.25.

Eagle Bancorp (NASDAQ:EGBN) opened at $59.45 on Wednesday. The firm has a market cap of $2,050.00, a P/E ratio of 18.69 and a beta of 0.87. Eagle Bancorp has a 1-year low of $46.20 and a 1-year high of $69.80. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.05. The company had revenue of $71.94 million during the quarter, compared to analysts’ expectations of $72.66 million. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.37%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. sell-side analysts expect that Eagle Bancorp will post 3.34 EPS for the current fiscal year.

In other news, Director Dudley C. Dworken sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $67.00, for a total value of $134,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ronald D. Paul sold 14,959 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $67.05, for a total transaction of $1,003,000.95. The disclosure for this sale can be found here. In the last three months, insiders sold 39,959 shares of company stock worth $2,682,251. 8.39% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of EGBN. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Eagle Bancorp by 158.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 1,162 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Eagle Bancorp by 38.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,874 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 800 shares in the last quarter. D.A. Davidson & CO. raised its position in Eagle Bancorp by 49.9% during the second quarter. D.A. Davidson & CO. now owns 3,537 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 1,177 shares in the last quarter. Zions Bancorporation bought a new stake in Eagle Bancorp during the third quarter worth $231,000. Finally, Amalgamated Bank raised its position in Eagle Bancorp by 7.5% during the second quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 283 shares in the last quarter. 68.23% of the stock is currently owned by hedge funds and other institutional investors.

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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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