Eagle Bancorp (NASDAQ:EGBN – Get an assessment) was upgraded by StockNews.com research analysts from a “sell” rating to a “hold” rating in a note to investors released Wednesday.
Eagle Bancorp is trading down 1.1%
EGBN stock was down $0.53 midday Wednesday, hitting $48.67. 116,267 shares of the company were traded, compared to its average volume of 175,606. The company has a market capitalization of $1.56 billion, a P/E ratio of 10.01 and a beta of 0.94 . The company has a debt ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79. Eagle Bancorp has a fifty-two week low of $44.85 and a fifty-two week high of $63.84. The company has a 50-day moving average price of $47.97 and a two-hundred-day moving average price of $52.18.
Eagle Bancorp (NASDAQ:EGBN – Get Rating) last reported quarterly results on Wednesday, July 20. The financial services provider reported earnings per share of $0.78 for the quarter, missing analyst consensus estimates of $1.15 per ($0.37). The company posted revenue of $88.48 million for the quarter, versus analyst estimates of $91.00 million. Eagle Bancorp had a net margin of 39.92% and a return on equity of 13.01%. During the same period last year, the company made earnings per share of $1.50. Equity research analysts expect Eagle Bancorp to post EPS of 4.97 for the current fiscal year.
Institutional entries and exits
A number of institutional investors have recently changed their positions in the company. Summit Global Investments acquired a new position in shares of Eagle Bancorp during the second quarter worth $341,000. Legal & General Group Plc increased its position in shares of Eagle Bancorp by 2.3% during the second quarter. Legal & General Group Plc now owns 92,779 shares of the financial services provider worth $4,398,000 after buying an additional 2,061 shares last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Eagle Bancorp during the second quarter at a value of $3,507,000. Goldman Sachs Group Inc. increased its position in Eagle Bancorp shares by 178.6% during the second quarter. Goldman Sachs Group Inc. now owns 174,169 shares of the financial services provider worth $8,257,000 after buying an additional 111,664 shares last quarter. Finally, Thrivent Financial for Lutherans increased its position in Eagle Bancorp shares by 50.6% during the second quarter. Thrivent Financial for Lutherans now owns 39,172 shares of the financial services provider worth $1,857,000 after buying an additional 13,165 shares last quarter. 73.83% of the shares are held by institutional investors and hedge funds.
Eagle Bancorp Company Profile
(Get an evaluation)
Eagle Bancorp, Inc operates as a bank holding company for EagleBank which provides commercial and consumer banking services primarily in the United States. The Company also offers various consumer and commercial loan products including commercial loans for working capital, equipment purchase, home equity lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as car and personal loans; personal credit cards; and residential mortgages.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to firstname.lastname@example.org.
Before you consider Eagle Bancorp, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Eagle Bancorp was not on the list.
While Eagle Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here