Eagle Bancorp (NASDAQ:EGBN) Shares Gap Down to $22.58

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $22.58, but opened at $21.70. Eagle Bancorp shares last traded at $22.09, with a volume of 39,591 shares traded.

Wall Street Analysts Forecast Growth

EGBN has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, July 29th. StockNews.com lowered shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, June 9th.

Eagle Bancorp Stock Performance

The firm has a fifty day moving average of $21.18 and a 200-day moving average of $20.36. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $670.52 million, a price-to-earnings ratio of 9.00 and a beta of 1.09.

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, topping the consensus estimate of $0.33 by $0.34. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. The business had revenue of $175.06 million during the quarter, compared to the consensus estimate of $80.90 million. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, sell-side analysts anticipate that Eagle Bancorp, Inc. will post 1.46 EPS for the current year.

Hedge Funds Weigh In On Eagle Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its position in shares of Eagle Bancorp by 10.2% in the fourth quarter. Franklin Resources Inc. now owns 54,871 shares of the financial services provider’s stock valued at $1,654,000 after purchasing an additional 5,091 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Eagle Bancorp by 39.8% during the 4th quarter. Rafferty Asset Management LLC now owns 63,376 shares of the financial services provider’s stock worth $1,910,000 after purchasing an additional 18,041 shares during the last quarter. Gabelli Funds LLC lifted its stake in Eagle Bancorp by 5.3% in the 4th quarter. Gabelli Funds LLC now owns 40,000 shares of the financial services provider’s stock valued at $1,206,000 after buying an additional 2,000 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in Eagle Bancorp during the 4th quarter valued at $7,801,000. Finally, Bontempo Ohly Capital Mgmt LLC purchased a new position in Eagle Bancorp during the fourth quarter worth $270,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

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.