Sandler O’Neill upgraded shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) from a hold rating to a buy rating in a research report sent to investors on Thursday. They currently have $68.00 price target on the financial services provider’s stock.
A number of other research analysts have also recently issued reports on the company. Stephens cut Eagle Bancorp from an overweight rating to an equal weight rating in a research note on Wednesday, December 21st. Zacks Investment Research raised Eagle Bancorp from a hold rating to a buy rating and set a $56.00 price objective on the stock in a research note on Monday, October 24th.
Eagle Bancorp (NASDAQ:EGBN) opened at 61.90 on Thursday. The stock’s 50 day moving average price is $60.53 and its 200 day moving average price is $54.61. The company has a market capitalization of $2.11 billion, a P/E ratio of 21.64 and a beta of 0.71. Eagle Bancorp has a 52 week low of $43.95 and a 52 week high of $64.94.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, January 18th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. Eagle Bancorp had a return on equity of 12.39% and a net margin of 31.21%. The firm had revenue of $74 million for the quarter, compared to analysts’ expectations of $67.36 million. During the same period last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts anticipate that Eagle Bancorp will post $3.10 earnings per share for the current year.
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In related news, CFO James H. Langmead sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $62.08, for a total value of $310,400.00. Following the sale, the chief financial officer now directly owns 49,670 shares of the company’s stock, valued at $3,083,513.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James H. Langmead sold 4,900 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $60.14, for a total value of $294,686.00. Following the completion of the sale, the chief financial officer now directly owns 55,470 shares in the company, valued at $3,335,965.80. The disclosure for this sale can be found here. Insiders sold 44,900 shares of company stock worth $2,702,586 over the last three months. 9.99% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake in Eagle Bancorp by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,208 shares of the financial services provider’s stock valued at $202,000 after buying an additional 511 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Eagle Bancorp by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 694,835 shares of the financial services provider’s stock valued at $33,428,000 after buying an additional 87,254 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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. Montgomery Investment Management Inc. purchased a new stake in Eagle Bancorp during the second quarter valued at $375,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Eagle Bancorp by 8.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,535 shares of the financial services provider’s stock valued at $1,084,000 after buying an additional 1,662 shares during the last quarter. 66.21% of the stock is currently owned by institutional investors.
Eagle Bancorp Company Profile
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.
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