Eagle Bancorp (EGBN) Stock Price Up 6.3%
Eagle Bancorp, Inc. (NASDAQ:EGBN) rose 6.3% during mid-day trading on Friday . The stock traded as high as $65.40 and last traded at $64.95. Approximately 524,644 shares were traded during trading, an increase of 166% from the average daily volume of 197,238 shares. The stock had previously closed at $61.10.
EGBN has been the subject of several research reports. Stephens raised shares of Eagle Bancorp from an “equal weight” rating to an “overweight” rating and set a $69.00 price objective for the company in a research report on Friday. BidaskClub raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. Zacks Investment Research downgraded shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Keefe, Bruyette & Woods reissued a “neutral” rating on shares of Eagle Bancorp in a research report on Friday, October 20th. Finally, Boenning Scattergood reissued a “buy” rating on shares of Eagle Bancorp in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Eagle Bancorp presently has an average rating of “Buy” and an average target price of $68.00.
The company has a market cap of $2,219.86, a price-to-earnings ratio of 19.50 and a beta of 0.88. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23.
In related news, CEO Ronald D. Paul sold 5,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $66.47, for a total transaction of $332,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harvey Michael Goodman sold 3,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $67.00, for a total transaction of $201,000.00. The disclosure for this sale can be found here. Insiders have sold 39,959 shares of company stock valued at $2,682,251 in the last 90 days. 8.39% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in EGBN. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Eagle Bancorp by 158.3% in the second 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. D.A. Davidson & CO. lifted its stake in Eagle Bancorp by 49.9% in the second 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. Zions Bancorporation acquired a new stake in Eagle Bancorp in the third quarter valued at $231,000. Amalgamated Bank lifted 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 acquiring an additional 283 shares during the last quarter. Finally, Menta Capital LLC acquired a new stake in Eagle Bancorp in the second quarter valued at $266,000. Hedge funds and other institutional investors own 68.23% of the company’s stock.
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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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