Eagle Bancorp (NASDAQ:EGBN) Raised to Hold at StockNews.com

Eagle Bancorp (NASDAQ:EGBN) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Eagle Bancorp Stock Performance

NASDAQ EGBN opened at $22.24 on Thursday. The firm has a 50-day moving average of $22.69 and a 200-day moving average of $24.14. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $665.62 million, a PE ratio of 6.74 and a beta of 1.02. Eagle Bancorp has a 52-week low of $16.72 and a 52-week high of $31.97.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). The company had revenue of $75.89 million for the quarter, compared to analyst estimates of $75.67 million. Eagle Bancorp had a return on equity of 8.12% and a net margin of 15.54%. On average, sell-side analysts anticipate that Eagle Bancorp will post 2.32 EPS for the current year.

Insiders Place Their Bets

In other Eagle Bancorp news, EVP Lindsey S. Rheaume sold 22,000 shares of Eagle Bancorp stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $22.98, for a total value of $505,560.00. Following the completion of the sale, the executive vice president now owns 9,075 shares in the company, valued at approximately $208,543.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Eagle Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of EGBN. Riverview Trust Co acquired a new stake in Eagle Bancorp in the 1st quarter worth about $26,000. Versant Capital Management Inc raised its position in shares of Eagle Bancorp by 1,910.2% in the 4th quarter. Versant Capital Management Inc now owns 985 shares of the financial services provider’s stock valued at $30,000 after buying an additional 936 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Eagle Bancorp in the 3rd quarter valued at approximately $32,000. Gladius Capital Management LP raised its position in shares of Eagle Bancorp by 762.4% in the 4th quarter. Gladius Capital Management LP now owns 1,466 shares of the financial services provider’s stock valued at $44,000 after buying an additional 1,296 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Eagle Bancorp in the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds 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.