Eagle Bancorp, Inc. (EGBN) Rating Reiterated by Keefe, Bruyette & Woods
Eagle Bancorp, Inc. (NASDAQ:EGBN)‘s stock had its “hold” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research note issued to investors on Tuesday. They currently have a $64.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 6.23% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the stock. BidaskClub raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research lowered shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Eagle Bancorp presently has a consensus rating of “Hold” and an average target price of $67.50.
Shares of Eagle Bancorp (NASDAQ:EGBN) traded up 0.81% on Tuesday, hitting $68.25. The company had a trading volume of 98,660 shares. The firm has a 50-day moving average price of $63.04 and a 200 day moving average price of $61.14. The company has a market capitalization of $2.33 billion, a P/E 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.
Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, topping 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 firm had revenue of $76.72 million for the quarter, compared to analysts’ expectations of $75.41 million. During the same quarter last year, the business earned $0.71 EPS. Equities analysts expect that Eagle Bancorp will post $3.27 EPS for the current year.
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In related news, Director Leslie M. Alperstein sold 4,212 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $67.38, for a total transaction of $283,804.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Antonio F. Marquez sold 2,200 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $63.04, for a total transaction of $138,688.00. Following the sale, the executive vice president now directly owns 20,273 shares of the company’s stock, valued at approximately $1,278,009.92. 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 three months. 8.39% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Eagle Bancorp by 158.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the financial services provider’s stock valued at $120,000 after buying an additional 1,162 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Eagle Bancorp during the 1st quarter worth approximately $124,000. Ameritas Investment Partners Inc. bought a new stake in shares of Eagle Bancorp during the 1st quarter worth approximately $158,000. Prudential Financial Inc. lifted its holdings in shares of Eagle Bancorp by 0.3% during the 1st quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 10 shares during the period. Finally, D.A. Davidson & CO. lifted 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 worth $223,000 after acquiring an additional 1,177 shares during the period. Hedge funds and other institutional investors own 68.07% 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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