Eagle Bancorp (EGBN) Reaches New 52-Week Low at $52.21
Eagle Bancorp, Inc. (NASDAQ:EGBN) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $52.21 and last traded at $66.15, with a volume of 231400 shares trading hands. The stock had previously closed at $68.50.
A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $64.00 price target on shares of Eagle Bancorp in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Friday, September 8th. Finally, Boenning Scattergood restated a “buy” rating on shares of Eagle Bancorp in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $68.50.
The firm has a market cap of $2,298.47, a price-to-earnings ratio of 21.02 and a beta of 0.90. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23.
Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. The business had revenue of $71.94 million for the quarter, compared to the consensus estimate of $72.66 million. Eagle Bancorp had a net margin of 37.95% and a return on equity of 13.05%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. equities analysts expect that Eagle Bancorp, Inc. will post 3.33 EPS for the current fiscal year.
In other news, CEO Ronald D. Paul sold 16,665 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $63.41, for a total value of $1,056,727.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ronald D. Paul sold 28,140 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $65.62, for a total transaction of $1,846,546.80. The disclosure for this sale can be found here. Insiders sold a total of 152,553 shares of company stock worth $9,932,774 over the last ninety days. Insiders own 8.39% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its holdings in Eagle Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 7,889 shares of the financial services provider’s stock worth $499,000 after buying an additional 21 shares in the last quarter. Trillium Asset Management LLC boosted its holdings in Eagle Bancorp by 0.3% during the second quarter. Trillium Asset Management LLC now owns 18,185 shares of the financial services provider’s stock worth $1,151,000 after buying an additional 48 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Eagle Bancorp by 1.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,751 shares of the financial services provider’s stock worth $427,000 after buying an additional 100 shares in the last quarter. Amalgamated Bank boosted its holdings in Eagle Bancorp by 7.5% during the second quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock worth $256,000 after buying an additional 283 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Eagle Bancorp by 1.0% during the second quarter. Rhumbline Advisers now owns 36,428 shares of the financial services provider’s stock worth $2,306,000 after buying an additional 376 shares in the last quarter. 68.30% of the stock is currently owned by institutional investors and hedge funds.
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About Eagle Bancorp
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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