Eagle Bancorp (NASDAQ:EGBN) Trading Up 4.2% – Here’s What Happened

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s stock price shot up 4.2% during mid-day trading on Thursday . The company traded as high as $25.55 and last traded at $25.62. 79,995 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 206,194 shares. The stock had previously closed at $24.58.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EGBN. Piper Sandler initiated coverage on shares of Eagle Bancorp in a research note on Monday, October 21st. They set a “neutral” rating and a $27.00 price objective for the company. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Eagle Bancorp Trading Up 2.4 %

The firm’s 50 day simple moving average is $27.19 and its 200-day simple moving average is $24.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $759.98 million, a PE ratio of -17.98 and a beta of 1.10.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. As a group, equities research analysts anticipate that Eagle Bancorp, Inc. will post 1.87 EPS for the current year.

Institutional Investors Weigh In On Eagle Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in EGBN. HighTower Advisors LLC raised its holdings in shares of Eagle Bancorp by 4.3% during the third quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 450 shares during the period. Nisa Investment Advisors LLC boosted its position in Eagle Bancorp by 49.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 846 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Eagle Bancorp by 9.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,007 shares of the financial services provider’s stock worth $246,000 after buying an additional 1,112 shares during the last quarter. GAMMA Investing LLC increased its position in Eagle Bancorp by 45.7% in the fourth quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider’s stock worth $93,000 after buying an additional 1,116 shares during the period. Finally, Empowered Funds LLC lifted its stake in Eagle Bancorp by 5.0% in the third quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock valued at $639,000 after buying an additional 1,340 shares during the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Company Profile

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.