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

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

Eagle Bancorp Price Performance

Shares of NASDAQ EGBN opened at $20.43 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.97 and a quick ratio of 0.97. Eagle Bancorp has a 1-year low of $16.72 and a 1-year high of $32.20. The company has a market capitalization of $611.47 million, a price-to-earnings ratio of 6.19 and a beta of 1.02. The business has a 50-day moving average of $22.84 and a 200-day moving average of $24.08.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). The company had revenue of $75.89 million during the quarter, compared to analysts’ expectations of $75.67 million. Eagle Bancorp had a return on equity of 8.12% and a net margin of 15.54%. On average, equities analysts anticipate 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 Eagle Bancorp 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 sale, the executive vice president now directly owns 9,075 shares of the company’s stock, valued at $208,543.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eagle Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of EGBN. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Eagle Bancorp by 19.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 13,386 shares of the financial services provider’s stock valued at $314,000 after buying an additional 2,173 shares during the last quarter. Riverview Trust Co bought a new position in Eagle Bancorp during the 1st quarter valued at $26,000. Quadrature Capital Ltd acquired a new position in Eagle Bancorp during the 4th quarter worth $584,000. Vanguard Group Inc. increased its position in shares of Eagle Bancorp by 3.9% in the 4th 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 during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Eagle Bancorp by 20.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 258,406 shares of the financial services provider’s stock valued at $7,788,000 after purchasing an additional 43,553 shares in the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Bancorp Company Profile

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.