The stock of Eagle Bancorp, Inc. (NASDAQ:EGBN) hit a new 52-week high and has $62.11 target or 7.00% above today’s $58.05 share price. The 6 months bullish chart indicates low risk for the $1.99 billion company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $62.11 price target is reached, the company will be worth $139.30 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.69% or $0.4 during the last trading session, hitting $58.05. About 53,670 shares traded hands. Eagle Bancorp, Inc. (NASDAQ:EGBN) has risen 14.59% since April 22, 2016 and is uptrending. It has outperformed by 9.18% the S&P500.
Analysts await Eagle Bancorp, Inc. (NASDAQ:EGBN) to report earnings on January, 18. They expect $0.71 earnings per share, up 9.23% or $0.06 from last year’s $0.65 per share. EGBN’s profit will be $24.34M for 20.44 P/E if the $0.71 EPS becomes a reality. After $0.72 actual earnings per share reported by Eagle Bancorp, Inc. for the previous quarter, Wall Street now forecasts -1.39% negative EPS growth.
Eagle Bancorp, Inc. (NASDAQ:EGBN) Ratings Coverage
Out of 3 analysts covering Eagle Bancorp (NASDAQ:EGBN), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Eagle Bancorp has been the topic of 3 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Keefe Bruyette & Woods downgraded Eagle Bancorp, Inc. (NASDAQ:EGBN) rating on Wednesday, December 2. Keefe Bruyette & Woods has “Market Perform” rating and $55 price target. The rating was maintained by Boenning & Scattergood on Thursday, July 23 with “Outperform”. FBR Capital maintained Eagle Bancorp, Inc. (NASDAQ:EGBN) on Friday, July 24 with “Outperform” rating.
According to Zacks Investment Research, “EAGLE BANCORP is the holding company for EagleBank. The Bank is headquartered in Bethesda, Maryland, and conducts full service commercial banking services through nine offices, located in Montgomery County, Maryland and Washington, D.C. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace.”
Insitutional Activity: The institutional sentiment increased to 1 in 2016 Q2. Its up 0.05, from 0.95 in 2016Q1. The ratio improved, as 10 funds sold all Eagle Bancorp, Inc. shares owned while 54 reduced positions. 16 funds bought stakes while 45 increased positions. They now own 22.23 million shares or 0.40% less from 22.32 million shares in 2016Q1.
Morgan Stanley holds 0% of its portfolio in Eagle Bancorp, Inc. (NASDAQ:EGBN) for 89,890 shares. Rockefeller Finance Services accumulated 0% or 2,792 shares. Citigroup accumulated 0% or 13,069 shares. Moreover, Eaton Vance has 0.01% invested in Eagle Bancorp, Inc. (NASDAQ:EGBN) for 64,683 shares. Envestnet Asset Management Incorporated last reported 29,942 shares in the company. Invest Counselors Of Maryland Ltd Liability Company accumulated 0.55% or 208,193 shares. Fmr Ltd Co has 445,934 shares for 0% of their US portfolio. Mutual Of America Capital Mngmt Ltd Liability holds 0.08% of its portfolio in Eagle Bancorp, Inc. (NASDAQ:EGBN) for 74,820 shares. Bancshares Of America De last reported 223,170 shares in the company. Moreover, Blackrock Advsrs Ltd Liability has 0% invested in Eagle Bancorp, Inc. (NASDAQ:EGBN) for 14,721 shares. Trexquant Inv Limited Partnership accumulated 5,468 shares or 0.03% of the stock. Parametric Port Associate Ltd Limited Liability Company holds 108,036 shares or 0.01% of its portfolio. Apg Asset Nv holds 92,480 shares or 0.01% of its portfolio. Wasatch Advisors has invested 1.2% of its portfolio in Eagle Bancorp, Inc. (NASDAQ:EGBN). Bb&T Corp holds 16,996 shares or 0.02% of its portfolio.
Insider Transactions: Since June 13, 2016, the stock had 0 insider purchases, and 5 selling transactions for $711,885 net activity. $229,642 worth of Eagle Bancorp, Inc. (NASDAQ:EGBN) was sold by PINCUS ROBERT P. ALPERSTEIN LESLIE M sold $246,177 worth of stock or 5,000 shares. Shares for $58,708 were sold by Dworken Dudley C on Friday, September 23. 2,500 shares were sold by Goodman Harvey Michael, worth $135,625 on Friday, November 11.
More recent Eagle Bancorp, Inc. (NASDAQ:EGBN) news were published by: Globenewswire.com which released: “Eagle Bancorp, Inc. Announces Its 31st Consecutive Quarter of Record Earnings …” on October 19, 2016. Also Globenewswire.com published the news titled: “Eagle Bancorp, Inc. Announces Pricing and Upsizing of Subordinated Notes Offering” on July 22, 2016. Globenewswire.com‘s news article titled: “Eagle Bancorp, Inc. Announces Subordinated Notes Offering” with publication date: July 20, 2016 was also an interesting one.
EGBN Company Profile
Eagle Bancorp, Inc., incorporated on October 28, 1997, is a bank holding firm for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank, which operates over 20 banking offices in Montgomery County, Maryland; District of Columbia, and Northern Virginia. The Bank offers a range of commercial banking services to its business and professional clients, as well as consumer banking services to individuals living or working in the service area. The Bank also provides commercial banking services to proprietorships, businesses, partnerships, firms, non-profit organizations and associations, and investors living and working in and near the Bank’s primary service area. The Bank offers a range of retail banking services to accommodate the individual needs of both corporate customers, as well as the community the Bank serves. The Bank also offers online banking, mobile banking and remote deposit services. It has a non-banking subsidiary, Eagle Commercial Ventures, LLC (ECV), which provides subordinated financing for the acquisition, development and construction of real estate projects. The Bank’s subsidiaries also include Bethesda Leasing, LLC and Eagle Insurance Services, LLC.
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