Eagle Bancorp Inc. (EGBN) Rating Lowered to Hold at Zacks Investment Research
Eagle Bancorp Inc. (NASDAQ:EGBN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Shares of Eagle Bancorp (NASDAQ:EGBN) traded down 0.50% on Tuesday, hitting $49.73. The company had a trading volume of 63,954 shares. The firm’s 50 day moving average price is $50.07 and its 200-day moving average price is $49.61. Eagle Bancorp has a 52 week low of $43.75 and a 52 week high of $55.56. The stock has a market capitalization of $1.67 billion, a PE ratio of 18.63 and a beta of 0.83.
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Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.04. Eagle Bancorp had a return on equity of 12.15% and a net margin of 30.91%. During the same period in the previous year, the company posted $0.61 earnings per share. Analysts forecast that Eagle Bancorp will post $2.79 earnings per share for the current fiscal year.
In other Eagle Bancorp news, Director Leslie M. Alperstein sold 5,000 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $49.24, for a total value of $246,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dudley C. Dworken sold 1,167 shares of the stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $50.31, for a total value of $58,711.77. The disclosure for this sale can be found here. 9.99% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Eagle Bancorp by 101.1% in the first quarter. BlackRock Inc. now owns 2,214 shares of the financial services provider’s stock valued at $106,000 after buying an additional 1,113 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Eagle Bancorp by 88.1% in the third quarter. BNP Paribas Arbitrage SA now owns 2,891 shares of the financial services provider’s stock valued at $143,000 after buying an additional 1,354 shares in the last quarter. Sei Investments Co. raised its position in shares of Eagle Bancorp by 91.7% in the second quarter. Sei Investments Co. now owns 4,100 shares of the financial services provider’s stock valued at $198,000 after buying an additional 1,961 shares in the last quarter. Profit Investment Management LLC purchased a new position in shares of Eagle Bancorp during the second quarter valued at about $201,000. Finally, Teacher Retirement System of Texas raised its position in shares of Eagle Bancorp by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,208 shares of the financial services provider’s stock valued at $202,000 after buying an additional 511 shares in the last quarter. Institutional investors and hedge funds own 67.68% 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, which operates over 20 banking offices in Montgomery County, Maryland; District of Columbia, and Northern Virginia. The Bank offers a range of commercial banking services to its business and professional clients, as well as consumer banking services to individuals living or working in the service area.
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