Eagle Bancorp (NASDAQ:EGBN) Price Target Raised to $22.00

Eagle Bancorp (NASDAQ:EGBN) had its price target lifted by research analysts at Keefe, Bruyette & Woods from $20.00 to $22.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 0.46% from the company’s previous close.

Separately, StockNews.com downgraded shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research note on Sunday, June 9th.

Eagle Bancorp Trading Down 3.1 %

EGBN stock traded down $0.70 during trading on Monday, reaching $21.90. 17,676 shares of the stock were exchanged, compared to its average volume of 318,666. The business has a 50 day moving average price of $18.92 and a 200-day moving average price of $21.54. Eagle Bancorp has a 1 year low of $15.99 and a 1 year high of $31.97. The firm has a market capitalization of $661.16 million, a price-to-earnings ratio of 8.81 and a beta of 1.08.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.34. The business had revenue of $175.06 million for the quarter, compared to the consensus estimate of $80.90 million. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. During the same period in the previous year, the firm earned $0.94 EPS. On average, research analysts anticipate that Eagle Bancorp will post 1.03 EPS for the current year.

Insider Activity

In other Eagle Bancorp news, Director A. Leslie Ludwig purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average price of $16.89 per share, for a total transaction of $25,335.00. Following the purchase, the director now directly owns 41,413 shares in the company, valued at $699,465.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eagle Bancorp news, Director A. Leslie Ludwig purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average price of $16.89 per share, for a total transaction of $25,335.00. Following the purchase, the director now directly owns 41,413 shares in the company, valued at $699,465.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Susan G. Riel purchased 5,260 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average price of $18.73 per share, with a total value of $98,519.80. Following the purchase, the chief executive officer now owns 332,210 shares in the company, valued at $6,222,293.30. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 9,010 shares of company stock worth $162,257. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Eagle Bancorp

A number of large investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp increased its holdings in shares of Eagle Bancorp by 2.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 26,191 shares of the financial services provider’s stock valued at $615,000 after purchasing an additional 515 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Eagle Bancorp by 5.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 18,028 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 870 shares during the last quarter. XML Financial LLC boosted its stake in shares of Eagle Bancorp by 4.7% during the 1st quarter. XML Financial LLC now owns 19,986 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 900 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Eagle Bancorp during the 1st quarter worth about $26,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Eagle Bancorp by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,187 shares of the financial services provider’s stock worth $710,000 after acquiring an additional 1,152 shares during the last quarter. Hedge funds and other 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.