Eagle Bancorp, Inc. (EGBN) Given Consensus Recommendation of “Hold” by Brokerages

Eagle Bancorp, Inc. (NASDAQ:EGBN) has been given an average recommendation of “Hold” by the eight analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $65.50.

EGBN has been the subject of several research reports. Zacks Investment Research cut shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Stephens set a $65.00 price objective on shares of Eagle Bancorp and gave the company a “buy” rating in a research note on Friday, October 19th. Gabelli initiated coverage on shares of Eagle Bancorp in a research note on Monday, August 27th. They set a “buy” rating and a $74.00 price objective for the company. BidaskClub cut shares of Eagle Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, August 3rd. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Eagle Bancorp in a research report on Thursday, October 18th.

Shares of NASDAQ EGBN opened at $53.89 on Monday. Eagle Bancorp has a 52-week low of $46.20 and a 52-week high of $69.80. The firm has a market cap of $1.85 billion, a PE ratio of 16.09 and a beta of 0.67. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.04 and a quick ratio of 1.04.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.02. Eagle Bancorp had a net margin of 31.86% and a return on equity of 14.14%. The company had revenue of $86.93 million during the quarter, compared to analysts’ expectations of $85.67 million. During the same period in the previous year, the company earned $0.87 EPS. As a group, sell-side analysts expect that Eagle Bancorp will post 4.41 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Wasatch Advisors Inc. boosted its position in Eagle Bancorp by 3.1% during the 3rd quarter. Wasatch Advisors Inc. now owns 3,067,736 shares of the financial services provider’s stock worth $155,227,000 after purchasing an additional 91,755 shares during the period. BlackRock Inc. lifted its holdings in Eagle Bancorp by 3.9% in the 2nd quarter. BlackRock Inc. now owns 2,155,130 shares of the financial services provider’s stock worth $132,109,000 after buying an additional 80,171 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Eagle Bancorp by 3.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,078,496 shares of the financial services provider’s stock worth $54,572,000 after buying an additional 37,853 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in Eagle Bancorp by 20.6% in the 3rd quarter. Epoch Investment Partners Inc. now owns 926,640 shares of the financial services provider’s stock worth $46,888,000 after buying an additional 158,303 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in Eagle Bancorp by 4.8% in the 2nd quarter. Glenmede Trust Co. NA now owns 414,156 shares of the financial services provider’s stock worth $25,388,000 after buying an additional 18,791 shares in the last quarter. 69.52% of the stock is 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. It accepts business and personal checking, NOW, tiered savings, and money market accounts, as well as individual retirement and investment sweep accounts; and time deposits.

Further Reading: NASDAQ Stock Market Explained

Receive News & Ratings for Eagle Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply