Eagle Bancorp, Inc. (NASDAQ:EGBN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $68.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.84% from the stock’s current price.

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. “

Several other equities analysts have also weighed in on the company. FIG Partners upgraded Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 price target for the company in a research note on Monday, May 22nd. BidaskClub upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $64.00 price target on shares of Eagle Bancorp in a research note on Friday, May 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Eagle Bancorp has a consensus rating of “Hold” and a consensus price target of $66.50.

Eagle Bancorp (NASDAQ:EGBN) traded up 0.33% during trading on Friday, hitting $60.80. The stock had a trading volume of 142,085 shares. The firm’s 50-day moving average price is $62.14 and its 200-day moving average price is $60.85. Eagle Bancorp has a 52-week low of $47.20 and a 52-week high of $65.00. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 19.80 and a beta of 0.72.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $76.72 million during the quarter, compared to analyst estimates of $75.41 million. During the same quarter in the previous year, the business earned $0.71 EPS. Analysts predict that Eagle Bancorp will post $3.27 EPS for the current fiscal year.

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In related news, EVP Janice L. Williams sold 10,000 shares of Eagle Bancorp stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $63.17, for a total value of $631,700.00. Following the sale, the executive vice president now directly owns 73,490 shares in the company, valued at approximately $4,642,363.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leland M. Weinstein sold 3,932 shares of Eagle Bancorp stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $62.97, for a total value of $247,598.04. Following the completion of the sale, the director now owns 64,274 shares in the company, valued at $4,047,333.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,338 shares of company stock worth $2,411,790. 8.39% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Eagle Bancorp by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,523,941 shares of the financial services provider’s stock worth $159,766,000 after buying an additional 129,146 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in Eagle Bancorp by 19.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,153,740 shares of the financial services provider’s stock worth $136,332,000 after buying an additional 350,204 shares during the last quarter. BlackRock Inc. boosted its holdings in Eagle Bancorp by 5.3% in the 2nd quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock worth $130,506,000 after buying an additional 103,343 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Eagle Bancorp by 1.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,320,262 shares of the financial services provider’s stock worth $83,573,000 after buying an additional 25,022 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Eagle Bancorp by 23.5% in the 2nd quarter. Jennison Associates LLC now owns 1,044,733 shares of the financial services provider’s stock worth $66,132,000 after buying an additional 198,608 shares during the last quarter. Institutional investors own 68.17% of the company’s stock.

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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