Eagle Bancorp (EGBN) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a buy rating to a hold rating in a research report released on Monday morning.

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. “

A number of other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Eagle Bancorp from a market perform rating to an outperform rating in a report on Monday, December 4th. Boenning Scattergood restated a buy rating on shares of Eagle Bancorp in a report on Thursday, October 19th. Finally, BidaskClub upgraded shares of Eagle Bancorp from a sell rating to a hold rating in a report on Friday, December 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Eagle Bancorp currently has an average rating of Buy and a consensus target price of $66.25.

Shares of Eagle Bancorp (NASDAQ:EGBN) traded down $1.35 on Monday, reaching $57.90. 250,500 shares of the company’s stock were exchanged, compared to its average volume of 230,950. The stock has a market capitalization of $2,025.04, a PE ratio of 17.98 and a beta of 0.88. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23. Eagle Bancorp has a twelve month low of $46.20 and a twelve month high of $69.80.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. The business had revenue of $71.94 million for the quarter, compared to analysts’ expectations of $72.66 million. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.37%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. sell-side analysts forecast that Eagle Bancorp will post 3.34 EPS for the current fiscal year.

In other news, Director Dudley C. Dworken sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $67.00, for a total transaction of $134,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ronald D. Paul sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $66.47, for a total transaction of $332,350.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,959 shares of company stock worth $2,682,251. Corporate insiders own 8.39% of the company’s stock.

Large investors have recently bought and sold shares of the company. Zions Bancorporation purchased a new stake in shares of Eagle Bancorp during the third quarter valued at approximately $231,000. Mutual of America Capital Management LLC boosted its holdings in Eagle Bancorp by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 80,948 shares of the financial services provider’s stock worth $5,428,000 after purchasing an additional 2,225 shares during the last quarter. Axiom International Investors LLC DE boosted its holdings in Eagle Bancorp by 34.1% in the third quarter. Axiom International Investors LLC DE now owns 133,785 shares of the financial services provider’s stock worth $8,970,000 after purchasing an additional 34,055 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in Eagle Bancorp by 4.5% in the third quarter. Eagle Asset Management Inc. now owns 107,269 shares of the financial services provider’s stock worth $7,262,000 after purchasing an additional 4,645 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its holdings in Eagle Bancorp by 1.5% in the third quarter. Wasatch Advisors Inc. now owns 2,185,154 shares of the financial services provider’s stock worth $146,515,000 after purchasing an additional 31,414 shares during the last quarter. 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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