Eagle Bancorp, Inc. (EGBN) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $71.00 target price 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. “
A number of other brokerages have also weighed in 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. Keefe, Bruyette & Woods restated a hold rating and issued a $64.00 target price on shares of Eagle Bancorp in a research report on Wednesday, April 5th. Finally, FIG Partners upgraded shares of Eagle Bancorp from a market perform rating to an outperform rating and set a $66.00 target price on the stock in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $67.25.
Eagle Bancorp (EGBN) traded down 0.48% on Tuesday, reaching $61.75. 44,749 shares of the company traded hands. The stock has a 50-day moving average of $62.73 and a 200 day moving average of $60.58. Eagle Bancorp has a 52-week low of $47.20 and a 52-week high of $65.00. The company has a market capitalization of $2.11 billion, a PE ratio of 20.11 and a beta of 0.71.
Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.39%. The firm had revenue of $76.72 million for the quarter, compared to analyst estimates of $75.41 million. During the same quarter last year, the business posted $0.71 earnings per share. On average, equities analysts forecast that Eagle Bancorp will post $3.27 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This piece was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.watchlistnews.com/eagle-bancorp-inc-egbn-upgraded-to-buy-by-zacks-investment-research/1461662.html.
In other news, Director Leland M. Weinstein sold 8,295 shares of Eagle Bancorp stock in a transaction on Friday, June 9th. The shares were sold at an average price of $62.22, for a total transaction of $516,114.90. Following the transaction, the director now owns 72,469 shares in the company, valued at $4,509,021.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ronald D. Paul sold 706 shares of Eagle Bancorp stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $64.12, for a total transaction of $45,268.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,924 shares of company stock worth $2,074,098. 8.39% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of EGBN. Norges Bank acquired a new position in shares of Eagle Bancorp during the fourth quarter worth approximately $14,529,000. Chevy Chase Trust Holdings Inc. raised its position in shares of Eagle Bancorp by 26.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 119,802 shares of the financial services provider’s stock worth $7,152,000 after buying an additional 25,267 shares during the period. Virginia Retirement Systems ET AL acquired a new position in shares of Eagle Bancorp during the first quarter worth approximately $531,000. Teachers Advisors LLC raised its position in shares of Eagle Bancorp by 11.2% in the fourth quarter. Teachers Advisors LLC now owns 57,057 shares of the financial services provider’s stock worth $3,478,000 after buying an additional 5,737 shares during the period. Finally, Kalmar Investments Inc. DE acquired a new position in shares of Eagle Bancorp during the first quarter worth approximately $2,070,000. Institutional investors own 66.90% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Eagle Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.