Eagle Bancorp (NASDAQ:EGBN) Downgraded by StockNews.com

StockNews.com lowered shares of Eagle Bancorp (NASDAQ:EGBN) from a hold rating to a sell rating in a research report released on Wednesday.

Eagle Bancorp Stock Up 1.4 %

NASDAQ EGBN opened at $23.49 on Wednesday. The company has a market capitalization of $703.06 million, a price-to-earnings ratio of 7.12 and a beta of 1.02. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. Eagle Bancorp has a 1-year low of $16.72 and a 1-year high of $34.75. The stock’s 50 day moving average is $23.89 and its two-hundred day moving average is $24.10.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.09). Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. The firm had revenue of $75.89 million during the quarter, compared to analyst estimates of $75.67 million. Equities analysts forecast that Eagle Bancorp will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Eagle Bancorp

In related news, EVP Lindsey S. Rheaume sold 22,000 shares of Eagle Bancorp stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $22.98, for a total transaction of $505,560.00. Following the completion of the transaction, the executive vice president now owns 9,075 shares of the company’s stock, valued at $208,543.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.09% of the company’s stock.

Institutional Trading of Eagle Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. boosted its position in Eagle Bancorp by 8.5% during the 1st quarter. Citigroup Inc. now owns 28,757 shares of the financial services provider’s stock valued at $1,639,000 after buying an additional 2,251 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Eagle Bancorp by 56.3% in the first quarter. MetLife Investment Management LLC now owns 17,213 shares of the financial services provider’s stock worth $981,000 after buying an additional 6,200 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Eagle Bancorp by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,541 shares of the financial services provider’s stock valued at $1,570,000 after purchasing an additional 3,395 shares in the last quarter. BlackRock Inc. raised its position in shares of Eagle Bancorp by 1.7% during the first quarter. BlackRock Inc. now owns 4,708,887 shares of the financial services provider’s stock valued at $268,453,000 after buying an additional 77,845 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Eagle Bancorp by 2.0% during the first quarter. Vanguard Group Inc. now owns 3,458,795 shares of the financial services provider’s stock valued at $197,186,000 after purchasing an additional 67,255 shares in the last quarter. Institutional investors own 78.03% of the company’s stock.

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.