Eagle Bancorp (NASDAQ:EGBN) Lifted to Hold at StockNews.com

Eagle Bancorp (NASDAQ:EGBN) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Eagle Bancorp Price Performance

Shares of NASDAQ:EGBN traded down $0.38 during trading hours on Tuesday, hitting $20.93. 237,890 shares of the company’s stock traded hands, compared to its average volume of 293,171. The company’s fifty day simple moving average is $22.89 and its two-hundred day simple moving average is $24.10. The company has a market cap of $626.43 million, a price-to-earnings ratio of 6.34 and a beta of 1.02. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 0.97. Eagle Bancorp has a 52 week low of $16.72 and a 52 week high of $32.20.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). The business had revenue of $75.89 million for the quarter, compared to the consensus estimate of $75.67 million. Eagle Bancorp had a return on equity of 8.12% and a net margin of 15.54%. As a group, equities analysts anticipate that Eagle Bancorp will post 2.32 EPS for the current fiscal year.

Insider Activity

In other news, EVP Lindsey S. Rheaume sold 22,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $22.98, for a total transaction of $505,560.00. Following the completion of the sale, the executive vice president now directly owns 9,075 shares of the company’s stock, valued at $208,543.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eagle Bancorp

Hedge funds have recently modified their holdings of the stock. Riverview Trust Co acquired a new position in Eagle Bancorp during the first quarter valued at $26,000. Quadrature Capital Ltd acquired a new position in Eagle Bancorp during the fourth quarter valued at $584,000. Vanguard Group Inc. raised its position in Eagle Bancorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock valued at $101,351,000 after buying an additional 126,085 shares during the period. Goldman Sachs Group Inc. raised its position in Eagle Bancorp by 20.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 258,406 shares of the financial services provider’s stock valued at $7,788,000 after buying an additional 43,553 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Eagle Bancorp by 4.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,035 shares of the financial services provider’s stock valued at $876,000 after buying an additional 1,120 shares during the period. 78.03% of the stock is owned by hedge funds and other institutional investors.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.