Breaking: Is Buying Eagle Bancorp, Inc. Here a Winning Strategy?

Breaking: Is Buying Eagle Bancorp, Inc. Here a Winning Strategy?

The stock of Eagle Bancorp, Inc. (NASDAQ:EGBN) hit a new 52-week high and has $63.60 target or 6.00% above today’s $60.00 share price. The 6 months bullish chart indicates low risk for the $2.12 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $63.60 price target is reached, the company will be worth $127.20 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. About 100,300 shares traded hands. Eagle Bancorp, Inc. (NASDAQ:EGBN) has risen 16.20% since April 28, 2016 and is uptrending. It has outperformed by 10.27% 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 $25.09M for 21.13 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”. The stock of Eagle Bancorp, Inc. (NASDAQ:EGBN) has “Outperform” rating given on Friday, July 24 by FBR Capital.

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.
Geode Cap Limited Liability Corporation accumulated 0.01% or 215,214 shares. Nationwide Fund accumulated 0% or 20,101 shares. Eaton Vance Mngmt reported 64,683 shares or 0.01% of all its holdings. Blackrock Fund, a California-based fund reported 729,670 shares. Parametric Assoc Lc reported 108,036 shares or 0.01% of all its holdings. Blackrock Inv Mngmt Limited Liability has 116,785 shares for 0.01% of their US portfolio. Natl Bank Of Mellon Corp accumulated 0% or 318,608 shares. Inv Counselors Of Maryland Limited Liability reported 208,193 shares or 0.55% of all its holdings. Voya Invest Limited Liability Co accumulated 15,052 shares or 0% of the stock. Jennison Associates Limited Com has 0.03% invested in the company for 522,245 shares. Invesco Limited reported 50,340 shares or 0% of all its holdings. Creative Planning has 12,465 shares for 0% of their US portfolio. Alliancebernstein Lp holds 46,090 shares or 0% of its portfolio. Envestnet Asset Management holds 29,942 shares or 0.01% of its portfolio. Commonwealth Equity Ser has 0.01% invested in the company for 29,633 shares.

Insider Transactions: Since June 13, 2016, the stock had 0 insider purchases, and 5 insider sales for $711,885 net activity. 1,167 Eagle Bancorp, Inc. (NASDAQ:EGBN) shares with value of $58,708 were sold by Dworken Dudley C. PINCUS ROBERT P sold 4,515 shares worth $229,642. ALPERSTEIN LESLIE M also sold $246,177 worth of Eagle Bancorp, Inc. (NASDAQ:EGBN) on Friday, September 30. $135,625 worth of Eagle Bancorp, Inc. (NASDAQ:EGBN) was sold by Goodman Harvey Michael.

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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