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

Eagle Bancorp (NASDAQ:EGBN) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Eagle Bancorp Stock Down 0.1 %

Shares of Eagle Bancorp stock opened at $22.24 on Thursday. The business has a 50-day moving average of $22.69 and a 200-day moving average of $24.14. 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 $665.62 million, a PE ratio of 6.74 and a beta of 1.02. Eagle Bancorp has a 1-year low of $16.72 and a 1-year high of $31.97.

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

Insider Activity

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 in the company, valued at $208,543.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Eagle Bancorp

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Eagle Bancorp by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock worth $101,351,000 after purchasing an additional 126,085 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Eagle Bancorp by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,044,835 shares of the financial services provider’s stock worth $31,493,000 after purchasing an additional 54,480 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Eagle Bancorp by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 497,083 shares of the financial services provider’s stock worth $14,982,000 after purchasing an additional 38,696 shares in the last quarter. AQR Capital Management LLC grew its stake in Eagle Bancorp by 378.9% in the third quarter. AQR Capital Management LLC now owns 361,217 shares of the financial services provider’s stock worth $7,748,000 after purchasing an additional 285,790 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Eagle Bancorp by 9.6% in the third quarter. American Century Companies Inc. now owns 322,662 shares of the financial services provider’s stock worth $6,921,000 after purchasing an additional 28,384 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors and hedge funds.

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.