Eagle Bancorp (EGBN) Earns “Buy” Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their buy rating on shares of Eagle Bancorp (NASDAQ:EGBN) in a research note released on Friday, December 22nd. They currently have a $66.00 target price on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Eagle Bancorp from a hold rating to a buy rating and set a $72.00 target price on the stock in a report on Tuesday, September 19th. BidaskClub upgraded shares of Eagle Bancorp from a sell rating to a hold rating in a report on Friday, December 15th. Finally, Boenning Scattergood reissued a buy rating on shares of Eagle Bancorp in a research report on Thursday, October 19th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $67.75.

Shares of Eagle Bancorp (NASDAQ:EGBN) traded down $0.25 on Friday, reaching $61.45. 74,692 shares of the company’s stock were exchanged, compared to its average volume of 187,595. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05. Eagle Bancorp has a 1 year low of $46.20 and a 1 year high of $69.80. The company has a market capitalization of $2,100.24, a price-to-earnings ratio of 19.08 and a beta of 0.88.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05. The company 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 32.40% and a return on equity of 12.37%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. research analysts forecast that Eagle Bancorp will post 3.34 EPS for the current year.

In other news, CEO Ronald D. Paul sold 15,000 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $67.46, for a total value of $1,011,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ronald D. Paul sold 5,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $66.47, for a total transaction of $332,350.00. The disclosure for this sale can be found here. Insiders have sold 39,959 shares of company stock valued at $2,682,251 in the last ninety days. 8.39% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Eagle Bancorp by 158.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 1,162 shares during the period. Oppenheimer Asset Management Inc. increased its position in Eagle Bancorp by 38.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,874 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 800 shares during the period. D.A. Davidson & CO. increased its position in Eagle Bancorp by 49.9% during the 2nd quarter. D.A. Davidson & CO. now owns 3,537 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 1,177 shares during the period. Zions Bancorporation acquired a new stake in Eagle Bancorp during the 3rd quarter valued at approximately $231,000. Finally, Amalgamated Bank increased its position in Eagle Bancorp by 7.5% during the 2nd quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 283 shares during the period. 68.23% of the stock is owned by institutional investors.

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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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