Eagle Bancorp (EGBN) Rating Increased to Outperform at Keefe, Bruyette & Woods
Eagle Bancorp (NASDAQ:EGBN) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Monday, MarketBeat reports.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Eagle Bancorp from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, September 19th. Boenning Scattergood reaffirmed a “buy” rating on shares of Eagle Bancorp in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Eagle Bancorp has an average rating of “Buy” and a consensus price target of $68.50.
Shares of Eagle Bancorp (NASDAQ EGBN) traded up $7.15 during mid-day trading on Monday, reaching $57.10. The company’s stock had a trading volume of 2,670,601 shares, compared to its average volume of 144,798. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05. Eagle Bancorp has a 12 month low of $46.20 and a 12 month high of $69.80. The firm has a market cap of $1,707.19, a price-to-earnings ratio of 15.61 and a beta of 0.87.
In other news, Director Dudley C. Dworken sold 2,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $67.00, for a total transaction of $134,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ronald D. Paul sold 16,486 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $63.60, for a total value of $1,048,509.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,553 shares of company stock worth $9,932,774. 8.39% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Eagle Bancorp by 158.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 1,162 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Eagle Bancorp by 38.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,874 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 800 shares during the last quarter. Zions Bancorporation acquired a new position in shares of Eagle Bancorp during the 3rd quarter valued at about $231,000. D.A. Davidson & CO. increased its holdings in shares of Eagle Bancorp by 49.9% during the 2nd quarter. D.A. Davidson & CO. now owns 3,537 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 1,177 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Eagle Bancorp by 7.5% during the 2nd quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 283 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.
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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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