Eagle Bancorp, Inc. (EGBN) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
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 research firms have also commented on EGBN. BidaskClub upgraded shares of Eagle Bancorp from a strong sell rating to a sell rating in a research report on Saturday, June 10th. FIG Partners upgraded shares of Eagle Bancorp from a market perform rating to an outperform rating and set a $66.00 price target for the company in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Eagle Bancorp currently has an average rating of Hold and an average target price of $67.50.
Eagle Bancorp (EGBN) opened at 63.25 on Monday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 20.60 and a beta of 0.72. Eagle Bancorp has a 52-week low of $47.20 and a 52-week high of $65.00. The company has a 50 day moving average of $62.30 and a 200-day moving average of $60.85.
Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.04. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.17%. The firm had revenue of $76.72 million during the quarter, compared to analyst estimates of $75.41 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Equities research analysts anticipate that Eagle Bancorp will post $3.27 EPS for the current year.
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In other news, CEO Ronald D. Paul sold 7,791 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $63.50, for a total transaction of $494,728.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald D. Paul sold 800 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $64.40, for a total transaction of $51,520.00. The disclosure for this sale can be found here. Insiders have sold 68,357 shares of company stock valued at $4,320,949 in the last 90 days. Insiders own 8.39% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in EGBN. Wells Fargo & Company MN grew its position in shares of Eagle Bancorp by 13.1% during the first quarter. Wells Fargo & Company MN now owns 105,023 shares of the financial services provider’s stock worth $6,270,000 after acquiring an additional 12,196 shares during the last quarter. First Trust Advisors LP lifted its holdings in Eagle Bancorp by 31.0% in the first quarter. First Trust Advisors LP now owns 86,718 shares of the financial services provider’s stock worth $5,177,000 after purchasing an additional 20,501 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in Eagle Bancorp by 77.0% in the first quarter. UBS Asset Management Americas Inc. now owns 14,681 shares of the financial services provider’s stock worth $876,000 after purchasing an additional 6,385 shares during the period. Karp Capital Management Corp acquired a new stake in Eagle Bancorp in the first quarter worth about $301,000. Finally, Sei Investments Co. lifted its holdings in Eagle Bancorp by 1.7% in the first quarter. Sei Investments Co. now owns 6,892 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 68.05% of the company’s stock.
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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