Eagle Bancorp, Inc. (EGBN) Receives $67.50 Average Price Target from Brokerages
Eagle Bancorp, Inc. (NASDAQ:EGBN) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $67.50.
Several brokerages have recently issued reports on EGBN. Zacks Investment Research downgraded shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Monday, September 18th. BidaskClub raised shares of Eagle Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th.
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Eagle Bancorp (NASDAQ:EGBN) traded down 0.16% during mid-day trading on Wednesday, hitting $63.50. 126,160 shares of the stock traded hands. Eagle Bancorp has a 1-year low of $47.20 and a 1-year high of $65.00. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 20.68 and a beta of 0.72. The stock has a 50-day moving average of $62.30 and a 200 day moving average of $60.85.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.04. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.17%. The company had revenue of $76.72 million during the quarter, compared to the consensus estimate of $75.41 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. On average, equities analysts expect that Eagle Bancorp will post $3.27 EPS for the current year.
In related news, CEO Ronald D. Paul sold 7,791 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $63.50, for a total value of $494,728.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ronald D. Paul sold 16,665 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $63.41, for a total transaction of $1,056,727.65. The disclosure for this sale can be found here. Insiders sold 86,246 shares of company stock valued at $5,456,412 in the last ninety days. Corporate insiders own 8.39% of the company’s stock.
A number of hedge funds have recently bought and sold shares of EGBN. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Eagle Bancorp by 158.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 1,162 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Eagle Bancorp in the first quarter worth about $124,000. Ameritas Investment Partners Inc. acquired a new stake in Eagle Bancorp in the first quarter worth about $158,000. Prudential Financial Inc. lifted its holdings in Eagle Bancorp by 0.3% in the first quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 10 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in Eagle Bancorp by 49.9% in the second quarter. D.A. Davidson & CO. now owns 3,537 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 1,177 shares during the period. 68.05% of the stock is owned by institutional investors and hedge funds.
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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