Zacks Investment Research lowered shares of Eagle Bancorp Inc. (NASDAQ:EGBN) from a buy rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “EAGLE BANCORP is the holding company for EagleBank. The Bank is headquartered in Bethesda, Maryland, and conducts full service commercial banking services through nine offices, located in Montgomery County, Maryland and Washington, D.C. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace. “

Shares of Eagle Bancorp (NASDAQ:EGBN) opened at 49.64 on Tuesday. The company has a 50-day moving average price of $50.04 and a 200 day moving average price of $49.61. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 18.60 and a beta of 0.82. Eagle Bancorp has a 12-month low of $43.75 and a 12-month high of $55.56.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.04. Eagle Bancorp had a return on equity of 12.15% and a net margin of 30.91%. During the same period last year, the business posted $0.61 EPS. Equities research analysts expect that Eagle Bancorp will post $2.79 earnings per share for the current fiscal year.

In related news, Director Dudley C. Dworken sold 1,167 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $50.31, for a total transaction of $58,711.77. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Leslie M. Alperstein sold 5,000 shares of Eagle Bancorp stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $49.24, for a total value of $246,200.00. The disclosure for this sale can be found here. Corporate insiders own 9.99% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Eagle Bancorp by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,596,262 shares of the financial services provider’s stock valued at $124,620,000 after buying an additional 187,807 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Eagle Bancorp by 3.0% in the second quarter. Vanguard Group Inc. now owns 2,175,474 shares of the financial services provider’s stock valued at $104,661,000 after buying an additional 62,742 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Eagle Bancorp by 19.4% in the second quarter. PNC Financial Services Group Inc. now owns 1,405,936 shares of the financial services provider’s stock valued at $67,640,000 after buying an additional 228,663 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Eagle Bancorp by 2.9% in the second quarter. Victory Capital Management Inc. now owns 1,111,036 shares of the financial services provider’s stock valued at $53,452,000 after buying an additional 30,890 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Eagle Bancorp by 3.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 874,167 shares of the financial services provider’s stock valued at $41,960,000 after buying an additional 27,778 shares during the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

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, which operates over 20 banking offices in Montgomery County, Maryland; District of Columbia, and Northern Virginia. The Bank offers a range of commercial banking services to its business and professional clients, as well as consumer banking services to individuals living or working in the service area.

5 Day Chart for NASDAQ:EGBN

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