Eagle Bancorp (EGBN) Trading 14.3% Higher

Eagle Bancorp, Inc. (NASDAQ:EGBN) shares traded up 14.3% during trading on Tuesday . The stock traded as high as $57.10 and last traded at $57.10. 2,670,600 shares were traded during trading, an increase of 1,744% from the average session volume of 144,803 shares. The stock had previously closed at $49.95.

Several research firms have recently issued reports on EGBN. Keefe, Bruyette & Woods upgraded Eagle Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, September 19th. Finally, Boenning Scattergood restated a “buy” rating on shares of Eagle Bancorp in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $68.50.

The company has a market capitalization of $1,707.19, a price-to-earnings ratio of 15.61 and a beta of 0.87. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. Eagle Bancorp had a return on equity of 12.37% and a net margin of 32.40%. The firm had revenue of $71.94 million during the quarter, compared to analyst estimates of $72.66 million. During the same period last year, the firm posted $0.72 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. equities analysts expect that Eagle Bancorp, Inc. will post 3.33 earnings per share for the current fiscal year.

In other Eagle Bancorp news, CEO Ronald D. Paul sold 800 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $64.40, for a total value of $51,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald D. Paul sold 16,486 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $63.60, for a total value of $1,048,509.60. The disclosure for this sale can be found here. In the last three months, insiders sold 152,553 shares of company stock valued at $9,932,774. 8.39% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EGBN. Vanguard Group Inc. boosted its position in shares of Eagle Bancorp by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,523,941 shares of the financial services provider’s stock valued at $159,766,000 after acquiring an additional 129,146 shares during the last quarter. Wasatch Advisors Inc. boosted its position in shares of Eagle Bancorp by 1.5% during the 3rd quarter. Wasatch Advisors Inc. now owns 2,185,154 shares of the financial services provider’s stock valued at $146,515,000 after acquiring an additional 31,414 shares during the last quarter. BlackRock Inc. boosted its position in shares of Eagle Bancorp by 5.3% during the 2nd quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock valued at $130,506,000 after acquiring an additional 103,343 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Eagle Bancorp by 5.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,386,541 shares of the financial services provider’s stock valued at $92,968,000 after acquiring an additional 66,279 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Eagle Bancorp by 23.7% during the 3rd quarter. Jennison Associates LLC now owns 1,291,987 shares of the financial services provider’s stock valued at $86,628,000 after acquiring an additional 247,254 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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Eagle Bancorp Company Profile

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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