Keefe, Bruyette & Woods Reiterates “Hold” Rating for Eagle Bancorp, Inc. (EGBN)
Eagle Bancorp, Inc. (NASDAQ:EGBN)‘s stock had its “hold” rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a report issued on Tuesday. They currently have a $64.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential downside of 6.23% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Wednesday, June 28th. BidaskClub cut Eagle Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $67.50.
Shares of Eagle Bancorp (NASDAQ EGBN) traded up 0.81% during mid-day trading on Tuesday, reaching $68.25. 98,660 shares of the company’s stock traded hands. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 22.23 and a beta of 0.74. Eagle Bancorp has a 12 month low of $47.20 and a 12 month high of $68.30. The company has a 50 day moving average of $63.04 and a 200 day moving average of $61.14.
Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.77 by $0.04. Eagle Bancorp had a return on equity of 12.17% and a net margin of 31.79%. The company had revenue of $76.72 million for the quarter, compared to analyst estimates of $75.41 million. During the same quarter in the prior year, the company earned $0.71 EPS. Analysts expect that Eagle Bancorp will post $3.27 earnings per share for the current fiscal year.
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In other news, CEO Ronald D. Paul sold 706 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $64.12, for a total value of $45,268.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ronald D. Paul sold 800 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $64.40, for a total value of $51,520.00. The disclosure for this sale can be found here. Insiders have sold 139,209 shares of company stock worth $8,919,987 in the last quarter. Company insiders own 8.39% of the company’s stock.
A number of hedge funds have recently bought and sold shares of EGBN. Vanguard Group Inc. boosted its holdings in Eagle Bancorp by 5.4% in the second quarter. Vanguard Group Inc. now owns 2,523,941 shares of the financial services provider’s stock worth $159,766,000 after acquiring an additional 129,146 shares in the last quarter. Wasatch Advisors Inc. grew its stake in Eagle Bancorp by 19.4% in the second quarter. Wasatch Advisors Inc. now owns 2,153,740 shares of the financial services provider’s stock valued at $136,332,000 after acquiring an additional 350,204 shares during the period. BlackRock Inc. grew its stake in Eagle Bancorp by 5.3% in the second quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock valued at $130,506,000 after acquiring an additional 103,343 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Eagle Bancorp by 1.9% during the second quarter. Victory Capital Management Inc. now owns 1,320,262 shares of the financial services provider’s stock valued at $83,573,000 after acquiring an additional 25,022 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Eagle Bancorp by 23.5% during the second quarter. Jennison Associates LLC now owns 1,044,733 shares of the financial services provider’s stock valued at $66,132,000 after acquiring an additional 198,608 shares in the last quarter. 68.07% of the stock is currently owned by institutional investors and hedge funds.
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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