Zacks Investment Research downgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a buy rating to a hold rating in a research report sent to investors on Thursday.

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. “

Several other analysts have also weighed in on EGBN. Keefe, Bruyette & Woods reiterated a hold rating and set a $64.00 target price on shares of Eagle Bancorp in a research report on Tuesday, October 3rd. Boenning Scattergood reiterated a buy rating on shares of Eagle Bancorp in a research report on Thursday, October 19th. Finally, BidaskClub upgraded shares of Eagle Bancorp from a sell rating to a hold rating in a research report on Friday, December 15th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $67.75.

Shares of Eagle Bancorp (NASDAQ:EGBN) traded down $0.25 during trading on Thursday, hitting $61.45. 74,600 shares of the stock traded hands, compared to its average volume of 160,689. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05. Eagle Bancorp has a 1-year low of $46.20 and a 1-year high of $69.80. The firm has a market cap of $2,100.23, a price-to-earnings ratio of 19.08 and a beta of 0.88.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results 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. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.37%. The business had revenue of $71.94 million for the quarter, compared to analyst estimates of $72.66 million. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. sell-side analysts predict that Eagle Bancorp will post 3.34 earnings per share for the current year.

In related news, CEO Ronald D. Paul sold 5,000 shares of Eagle Bancorp stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $66.47, for a total transaction of $332,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ronald D. Paul sold 15,000 shares of Eagle Bancorp stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $67.46, for a total transaction of $1,011,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 39,959 shares of company stock valued at $2,682,251 over the last three months. 8.39% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System raised its stake in shares of Eagle Bancorp by 6.7% in the third quarter. California Public Employees Retirement System now owns 41,068 shares of the financial services provider’s stock worth $2,754,000 after acquiring an additional 2,578 shares during the last quarter. Zions Bancorporation bought a new position in shares of Eagle Bancorp in the third quarter worth about $231,000. Oppenheimer Asset Management Inc. raised its stake in shares of Eagle Bancorp by 38.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 3,966 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 1,092 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Eagle Bancorp by 5.4% in the third quarter. Dimensional Fund Advisors LP now owns 849,889 shares of the financial services provider’s stock worth $56,984,000 after acquiring an additional 43,512 shares during the last quarter. Finally, Moody Aldrich Partners LLC raised its stake in shares of Eagle Bancorp by 41.5% in the third quarter. Moody Aldrich Partners LLC now owns 24,557 shares of the financial services provider’s stock worth $1,647,000 after acquiring an additional 7,197 shares during the last quarter. 68.23% of the stock is owned by hedge funds and other institutional investors.

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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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