The Eagle Bancorp, Inc. (EGBN) Stock Rating Lowered by BidaskClub

The Eagle Bancorp, Inc. (EGBN) Stock Rating Lowered by BidaskClub

A number of other brokerages have also recently weighed in on EGBN. Keefe, Bruyette & Woods restated a “hold” rating and set a $64.00 price objective on shares of Eagle Bancorp in a research note on Wednesday, April 5th. Zacks Investment Research lowered Eagle Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, FIG Partners raised Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 target price on the stock in a research report on Monday, May 22nd. 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’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $67.25.

Eagle Bancorp, Inc. (NASDAQ:EGBN) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Monday.

Eagle Bancorp (NASDAQ:EGBN) opened at 63.10 on Monday. Eagle Bancorp has a one year low of $47.20 and a one year high of $65.00. The stock’s 50 day moving average price is $62.71 and its 200 day moving average price is $60.62. The company has a market capitalization of $2.16 billion, a P/E ratio of 20.55 and a beta of 0.70.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $76.72 million during the quarter, compared to analysts’ expectations of $75.41 million. Eagle Bancorp had a return on equity of 12.39% and a net margin of 31.79%. During the same period in the prior year, the business posted $0.71 EPS. Equities analysts anticipate that Eagle Bancorp will post $3.27 EPS for the current fiscal year.

In related news, Director Leland M. Weinstein sold 8,295 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $62.22, for a total transaction of $516,114.90. Following the transaction, the director now directly owns 72,469 shares of the company’s stock, valued at approximately $4,509,021.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leland M. Weinstein sold 3,932 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $62.97, for a total value of $247,598.04. Following the transaction, the director now directly owns 64,274 shares in the company, valued at $4,047,333.78. The disclosure for this sale can be found here. Insiders have sold a total of 32,924 shares of company stock worth $2,074,098 over the last ninety days. 8.39% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Eagle Bancorp by 54,771.8% in the first quarter. BlackRock Inc. now owns 1,958,376 shares of the financial services provider’s stock valued at $116,916,000 after buying an additional 1,954,807 shares in the last quarter. Jennison Associates LLC raised its position in shares of Eagle Bancorp by 58.5% in the first quarter. Jennison Associates LLC now owns 846,125 shares of the financial services provider’s stock valued at $50,514,000 after buying an additional 312,235 shares in the last quarter. Norges Bank acquired a new position in shares of Eagle Bancorp during the fourth quarter valued at about $14,529,000. Teachers Advisors LLC raised its position in shares of Eagle Bancorp by 374.6% in the first quarter. Teachers Advisors LLC now owns 270,797 shares of the financial services provider’s stock valued at $16,167,000 after buying an additional 213,740 shares in the last quarter. Finally, State Street Corp raised its position in shares of Eagle Bancorp by 14.8% in the first quarter. State Street Corp now owns 761,167 shares of the financial services provider’s stock valued at $45,443,000 after buying an additional 98,136 shares in the last quarter. 66.62% of the stock is currently owned by 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. 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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