Eagle Bancorp, Inc. (EGBN) Receives Consensus Rating of “Buy” from Brokerages
Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) have earned a consensus rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $66.75.
A number of research analysts have recently weighed in on EGBN shares. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Thursday, June 8th. BidaskClub upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Keefe, Bruyette & Woods restated a “hold” rating and set a $64.00 price objective on shares of Eagle Bancorp in a research report on Friday, May 19th. Finally, FIG Partners upgraded Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 price objective for the company in a research report on Monday, May 22nd.
In related news, Director Leland M. Weinstein sold 8,295 shares of Eagle Bancorp stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $62.22, for a total value of $516,114.90. Following the completion of the transaction, the director now owns 72,469 shares in the company, valued at $4,509,021.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ronald D. Paul sold 7,791 shares of Eagle Bancorp stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $63.50, for a total value of $494,728.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,018 shares of company stock valued at $1,258,441. 8.39% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EGBN. Nuveen Asset Management LLC bought a new position in Eagle Bancorp during the first quarter valued at approximately $1,037,000. UBS Oconnor LLC bought a new position in Eagle Bancorp during the first quarter valued at approximately $896,000. Colony Group LLC increased its stake in shares of Eagle Bancorp by 4.0% in the first quarter. Colony Group LLC now owns 36,679 shares of the financial services provider’s stock valued at $2,190,000 after buying an additional 1,410 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Eagle Bancorp by 2.9% in the first quarter. HighTower Advisors LLC now owns 47,165 shares of the financial services provider’s stock valued at $2,817,000 after buying an additional 1,345 shares during the last quarter. Finally, Barings LLC purchased a new stake in shares of Eagle Bancorp during the first quarter valued at about $782,000. Institutional investors own 66.87% of the company’s stock.
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Eagle Bancorp (NASDAQ EGBN) traded up 0.24% during trading on Friday, reaching $63.40. The company had a trading volume of 4,558 shares. The firm has a market capitalization of $2.16 billion, a P/E ratio of 21.35 and a beta of 0.71. Eagle Bancorp has a one year low of $46.00 and a one year high of $64.94. The firm’s 50-day moving average price is $60.13 and its 200 day moving average price is $60.38.
Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.03. The firm had revenue of $73 million during the quarter, compared to analyst estimates of $68.19 million. Eagle Bancorp had a return on equity of 12.15% and a net margin of 31.55%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. Equities analysts forecast that Eagle Bancorp will post $3.19 earnings per share for the current fiscal year.
Eagle Bancorp Company Profile
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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