Eagle Bancorp (NASDAQ:EGBN) Downgraded by BidaskClub to “Hold”

Eagle Bancorp (NASDAQ:EGBN) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, BidAskClub reports.

Several other research analysts also recently weighed in on EGBN. Sandler O’Neill reaffirmed a “hold” rating on shares of Eagle Bancorp in a report on Thursday, July 18th. TheStreet downgraded shares of Eagle Bancorp from a “b-” rating to a “c” rating in a report on Monday, July 29th. Zacks Investment Research raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. ValuEngine raised shares of Eagle Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, Piper Jaffray Companies downgraded shares of Eagle Bancorp from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $63.00 to $47.00 in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $54.20.

NASDAQ:EGBN opened at $41.90 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.04. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 1.47 and a beta of 0.90. Eagle Bancorp has a one year low of $37.08 and a one year high of $60.77. The business has a fifty day moving average price of $42.23 and a 200-day moving average price of $49.15.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.05). The firm had revenue of $87.70 million during the quarter, compared to the consensus estimate of $82.37 million. Eagle Bancorp had a return on equity of 13.77% and a net margin of 33.71%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 EPS. On average, equities research analysts expect that Eagle Bancorp will post 4.32 earnings per share for the current fiscal year.

In other Eagle Bancorp news, EVP Antonio F. Marquez sold 2,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $41.79, for a total transaction of $104,475.00. Following the completion of the transaction, the executive vice president now owns 27,799 shares of the company’s stock, valued at approximately $1,161,720.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.25% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Eagle Bancorp by 3.5% during the 2nd quarter. BlackRock Inc. now owns 4,830,633 shares of the financial services provider’s stock valued at $261,481,000 after purchasing an additional 163,889 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of Eagle Bancorp by 0.7% during the 2nd quarter. Wasatch Advisors Inc. now owns 3,249,555 shares of the financial services provider’s stock valued at $175,898,000 after purchasing an additional 23,322 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Eagle Bancorp by 19.1% during the 2nd quarter. Northern Trust Corp now owns 503,581 shares of the financial services provider’s stock valued at $27,259,000 after purchasing an additional 80,785 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Eagle Bancorp by 6.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 407,034 shares of the financial services provider’s stock valued at $22,033,000 after purchasing an additional 23,592 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Eagle Bancorp by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 359,231 shares of the financial services provider’s stock valued at $17,498,000 after purchasing an additional 19,912 shares during the last quarter. 74.63% of the stock is owned by institutional investors and hedge funds.

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.

Featured Article: The basics of gap trading strategies

Analyst Recommendations for Eagle Bancorp (NASDAQ:EGBN)

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.