Eagle Bancorp (NASDAQ:EGBN) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Eagle Bancorp Trading Up 4.8 %

NASDAQ:EGBN opened at $23.16 on Wednesday. The firm has a 50-day simple moving average of $24.03 and a 200-day simple moving average of $24.11. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $693.18 million, a P/E ratio of 7.02 and a beta of 1.02. Eagle Bancorp has a one year low of $16.72 and a one year high of $34.87.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. The company had revenue of $75.89 million during the quarter, compared to analyst estimates of $75.67 million. Equities analysts anticipate that Eagle Bancorp will post 2.32 EPS for the current fiscal year.

Insider Activity at Eagle Bancorp

In other Eagle Bancorp news, EVP Lindsey S. Rheaume sold 22,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $22.98, for a total transaction of $505,560.00. Following the completion of the sale, the executive vice president now owns 9,075 shares of the company’s stock, valued at $208,543.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eagle Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Eagle Bancorp by 0.9% during the third quarter. BlackRock Inc. now owns 4,745,166 shares of the financial services provider’s stock worth $212,679,000 after purchasing an additional 44,403 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Eagle Bancorp by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,854,954 shares of the financial services provider’s stock worth $172,778,000 after buying an additional 77,521 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Eagle Bancorp by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,828,445 shares of the financial services provider’s stock worth $61,197,000 after acquiring an additional 189,992 shares in the last quarter. Finally, State Street Corp increased its position in shares of Eagle Bancorp by 19.9% during the second quarter. State Street Corp now owns 1,766,877 shares of the financial services provider’s stock worth $37,387,000 after acquiring an additional 292,648 shares during the period. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Bancorp

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.