Eagle Bancorp (EGBN) Lifted to Overweight at Stephens

Eagle Bancorp (NASDAQ:EGBN) was upgraded by research analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Friday, MarketBeat.com reports. The firm presently has a $69.00 price target on the financial services provider’s stock. Stephens’ target price would suggest a potential upside of 6.24% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Wednesday, January 3rd. Keefe, Bruyette & Woods restated a “buy” rating and set a $66.00 price objective on shares of Eagle Bancorp in a research note on Friday, December 22nd. Boenning Scattergood restated a “buy” rating on shares of Eagle Bancorp in a research note on Thursday, October 19th. Finally, BidaskClub upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $68.00.

Shares of Eagle Bancorp (NASDAQ EGBN) traded up $3.85 during midday trading on Friday, hitting $64.95. The company had a trading volume of 524,644 shares, compared to its average volume of 139,479. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2,088.27, a PE ratio of 22.24 and a beta of 0.88. Eagle Bancorp has a 1 year low of $46.20 and a 1 year high of $69.80.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $84.86 million during the quarter, compared to analysts’ expectations of $80.80 million. Eagle Bancorp had a return on equity of 12.65% and a net margin of 28.32%. analysts predict that Eagle Bancorp will post 4.35 EPS for the current year.

In other Eagle Bancorp news, CEO Ronald D. Paul sold 15,000 shares of the stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $67.46, for a total value of $1,011,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald D. Paul sold 5,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $66.47, for a total value of $332,350.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,959 shares of company stock valued at $2,682,251. 8.39% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management & Equity Research Inc. raised its stake in Eagle Bancorp by 1.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,751 shares of the financial services provider’s stock valued at $427,000 after buying an additional 100 shares during the last quarter. Amalgamated Bank raised its stake in Eagle Bancorp by 7.5% in the second quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock valued at $256,000 after buying an additional 283 shares during the last quarter. FMR LLC raised its stake in Eagle Bancorp by 8.5% in the second quarter. FMR LLC now owns 4,856 shares of the financial services provider’s stock valued at $307,000 after buying an additional 382 shares during the last quarter. Legal & General Group Plc raised its stake in Eagle Bancorp by 4.8% in the second quarter. Legal & General Group Plc now owns 11,508 shares of the financial services provider’s stock valued at $728,000 after buying an additional 528 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Eagle Bancorp by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 24,288 shares of the financial services provider’s stock valued at $1,537,000 after buying an additional 532 shares during the last quarter. Institutional investors own 68.23% of the company’s stock.

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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.