Eagle Bancorp (EGBN) Upgraded to Strong-Buy at Zacks Investment Research
Eagle Bancorp (NASDAQ:EGBN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday. The brokerage presently has a $71.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 15.54% from the stock’s current price.
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 also recently commented on EGBN. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $64.00 target price on shares of Eagle Bancorp in a report on Tuesday, October 3rd. Boenning Scattergood reaffirmed a “buy” rating on shares of Eagle Bancorp in a report on Thursday, October 19th. Finally, BidaskClub raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 15th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Eagle Bancorp has a consensus rating of “Buy” and an average price target of $67.75.
Shares of Eagle Bancorp (NASDAQ:EGBN) opened at $61.45 on Friday. The company has a market cap of $2,100.24, a PE ratio of 19.08 and a beta of 0.88. 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 twelve month low of $46.20 and a twelve month high of $69.80.
Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.82 by $0.05. The business had revenue of $71.94 million during the quarter, compared to the consensus estimate of $72.66 million. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.37%. Eagle Bancorp’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. analysts forecast that Eagle Bancorp will post 3.34 earnings per share for the current fiscal year.
In related news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ronald D. Paul sold 5,000 shares of the business’s 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 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 in the last ninety days. 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 the business. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Eagle Bancorp by 1.5% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,751 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 100 shares during the period. Amalgamated Bank boosted its holdings in Eagle Bancorp by 7.5% in the 2nd quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 283 shares during the period. FMR LLC boosted its holdings in Eagle Bancorp by 8.5% in the 2nd quarter. FMR LLC now owns 4,856 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 382 shares during the period. Legal & General Group Plc boosted its holdings in Eagle Bancorp by 4.8% in the 2nd quarter. Legal & General Group Plc now owns 11,508 shares of the financial services provider’s stock valued at $728,000 after purchasing an additional 528 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Eagle Bancorp by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,288 shares of the financial services provider’s stock valued at $1,537,000 after purchasing an additional 532 shares during the period. 68.23% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This news story was reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.watchlistnews.com/eagle-bancorp-egbn-upgraded-to-strong-buy-at-zacks-investment-research/1806922.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eagle Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.