StockNews.com Upgrades Eagle Bancorp (NASDAQ:EGBN) to Hold

Eagle Bancorp (NASDAQ:EGBN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Eagle Bancorp Price Performance

Shares of EGBN opened at $20.43 on Tuesday. The business’s 50-day moving average is $22.84 and its 200-day moving average is $24.08. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $611.47 million, a price-to-earnings ratio of 6.19 and a beta of 1.02. Eagle Bancorp has a fifty-two week low of $16.72 and a fifty-two week high of $32.20.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.67 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 for the quarter, compared to analysts’ expectations of $75.67 million. Equities research analysts expect that Eagle Bancorp will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Eagle Bancorp

In other news, EVP Lindsey S. Rheaume sold 22,000 shares of the firm’s stock in a transaction dated 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 directly owns 9,075 shares of the company’s stock, valued at approximately $208,543.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Eagle Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Eagle Bancorp by 0.9% in the third quarter. BlackRock Inc. now owns 4,745,166 shares of the financial services provider’s stock worth $212,679,000 after acquiring an additional 44,403 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Eagle Bancorp by 2.1% in the third quarter. Vanguard Group Inc. now owns 3,854,954 shares of the financial services provider’s stock worth $172,778,000 after purchasing an additional 77,521 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Eagle Bancorp by 11.6% during 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 buying an additional 189,992 shares during the last quarter. Finally, State Street Corp raised its holdings in 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 valued at $37,387,000 after buying an additional 292,648 shares in the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.

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.