Eagle Bancorp (EGBN) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a hold rating to a buy rating in a research note published on Tuesday morning. The brokerage currently has $71.00 target price on the financial services provider’s stock.

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. “

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A number of other brokerages also recently commented on EGBN. BidaskClub raised Eagle Bancorp from a hold rating to a buy rating in a research report on Thursday, February 22nd. Stephens raised Eagle Bancorp from an equal weight rating to an overweight rating and set a $69.00 price target for the company in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $66.00 price target on shares of Eagle Bancorp in a research report on Friday, December 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $68.00.

Shares of Eagle Bancorp (EGBN) opened at $59.25 on Tuesday. The company has a market capitalization of $2,123.25, a P/E ratio of 20.29 and a beta of 0.85. Eagle Bancorp has a 52 week low of $46.20 and a 52 week high of $69.80. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. The firm had revenue of $84.86 million during the quarter, compared to the consensus estimate of $80.80 million. Eagle Bancorp had a return on equity of 12.49% and a net margin of 28.32%. equities research analysts predict that Eagle Bancorp will post 4.43 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. increased its position in shares of Eagle Bancorp by 984.3% during the fourth quarter. Meeder Asset Management Inc. now owns 2,624 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 2,382 shares during the last quarter. Zions Bancorporation purchased a new stake in shares of Eagle Bancorp during the third quarter valued at approximately $231,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Eagle Bancorp during the fourth quarter valued at approximately $236,000. Oppenheimer Asset Management Inc. increased its position in shares of Eagle Bancorp by 38.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 3,966 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 1,092 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of Eagle Bancorp by 29.2% during the fourth quarter. D.A. Davidson & CO. now owns 4,830 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 1,091 shares during the last quarter. 69.92% of the stock is owned by institutional investors.

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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. 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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