Eagle Bancorp, Inc. (EGBN) Given Average Rating of “Hold” by Brokerages
Eagle Bancorp, Inc. (NASDAQ:EGBN) has been given an average rating of “Hold” by the six ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $66.00.
EGBN has been the subject of a number of research reports. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Thursday. Keefe, Bruyette & Woods restated a “hold” rating and issued a $64.00 target price on shares of Eagle Bancorp in a research note on Wednesday, April 5th. FIG Partners upgraded Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 target price for the company in a research note on Monday, May 22nd. Finally, BidaskClub upgraded Eagle Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday.
In other news, CFO James H. Langmead sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $58.03, for a total transaction of $290,150.00. Following the completion of the transaction, the chief financial officer now directly owns 4,935 shares in the company, valued at $286,378.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leland M. Weinstein sold 8,295 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $62.22, for a total value of $516,114.90. Following the transaction, the director now owns 72,469 shares of the company’s stock, valued at $4,509,021.18. The disclosure for this sale can be found here. Insiders own 8.39% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Eagle Bancorp by 54,771.8% in the first quarter. BlackRock Inc. now owns 1,958,376 shares of the financial services provider’s stock valued at $116,916,000 after buying an additional 1,954,807 shares in the last quarter. Maltese Capital Management LLC increased its position in shares of Eagle Bancorp by 179.5% in the fourth quarter. Maltese Capital Management LLC now owns 548,400 shares of the financial services provider’s stock valued at $33,425,000 after buying an additional 352,200 shares in the last quarter. Jennison Associates LLC increased its position in shares of Eagle Bancorp by 58.5% in the first quarter. Jennison Associates LLC now owns 846,125 shares of the financial services provider’s stock valued at $50,514,000 after buying an additional 312,235 shares in the last quarter. Norges Bank acquired a new position in shares of Eagle Bancorp during the fourth quarter valued at about $14,529,000. Finally, Teachers Advisors LLC increased its position in shares of Eagle Bancorp by 374.6% in the first quarter. Teachers Advisors LLC now owns 270,797 shares of the financial services provider’s stock valued at $16,167,000 after buying an additional 213,740 shares in the last quarter. Institutional investors and hedge funds own 67.02% of the company’s stock.
Eagle Bancorp (NASDAQ:EGBN) traded up 0.24% during mid-day trading on Monday, reaching $63.65. The company’s stock had a trading volume of 22,000 shares. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 21.43 and a beta of 0.68. Eagle Bancorp has a 52 week low of $45.07 and a 52 week high of $64.94. The firm has a 50-day moving average of $59.28 and a 200-day moving average of $60.08.
Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Tuesday, April 18th. The financial services provider reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.03. Eagle Bancorp had a return on equity of 12.15% and a net margin of 31.55%. The company had revenue of $73 million during the quarter, compared to the consensus estimate of $68.19 million. During the same period in the previous year, the firm posted $0.68 earnings per share. Eagle Bancorp’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that Eagle Bancorp will post $3.19 earnings per share for the current year.
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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