StockNews.com lowered shares of Eagle Bancorp (NASDAQ:EGBN – Free Report) from a hold rating to a sell rating in a research note published on Wednesday.
Eagle Bancorp Stock Up 4.8 %
Shares of NASDAQ:EGBN traded up $1.06 during midday trading on Wednesday, hitting $23.16. 268,438 shares of the company’s stock traded hands, compared to its average volume of 307,004. The firm’s fifty day moving average price is $24.03 and its two-hundred day moving average price is $24.11. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 0.97. Eagle Bancorp has a twelve month low of $16.72 and a twelve month high of $34.87. The company has a market cap of $693.18 million, a PE ratio of 7.02 and a beta of 1.02.
Eagle Bancorp (NASDAQ:EGBN – Get Free Report) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.09). The company had revenue of $75.89 million during the quarter, compared to analysts’ expectations of $75.67 million. Eagle Bancorp had a return on equity of 8.12% and a net margin of 15.54%. On average, equities research analysts anticipate that Eagle Bancorp will post 2.32 EPS for the current fiscal year.
Insider Activity at Eagle Bancorp
In related news, EVP Lindsey S. Rheaume sold 22,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $22.98, for a total value of $505,560.00. Following the transaction, the executive vice president now owns 9,075 shares in the company, valued at $208,543.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.53% of the company’s stock.
Hedge Funds Weigh In On Eagle Bancorp
Several large investors have recently modified their holdings of EGBN. Lazard Asset Management LLC bought a new position in Eagle Bancorp during the 3rd quarter worth approximately $26,000. Belpointe Asset Management LLC increased its stake in Eagle Bancorp by 320.5% during the first quarter. Belpointe Asset Management LLC now owns 820 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 625 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Eagle Bancorp by 1,910.2% during the fourth quarter. Versant Capital Management Inc now owns 985 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 936 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Eagle Bancorp in the 3rd quarter worth about $32,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Eagle Bancorp by 95.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,011 shares of the financial services provider’s stock valued at $43,000 after buying an additional 983 shares during the period. Institutional investors own 78.03% of the company’s stock.
About Eagle Bancorp
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.
