UPDATE: Stifel Nicolaus Raises PT to $22 on Eagle Bancorp on Solid Quarter

Stifel Nicolaus reiterated its Buy rating on Eagle Bancorp

and raised the price target from $20 to $22. Stifel Nicolaus said, "Following a solid 3Q12 we are raising estimates, raising our target to $22 from $20, and strongly reiterating our Buy rating. EGBN remains on the Stifel Select List. Eagle Bancorp, Inc. (EGBN) reported 3Q12 GAAP and operating EPS of $0.44 that was $0.03 ahead of our $0.41 operating estimate and $0.05 ahead of the $0.39 consensus. 3Q12 ROA materially expanded to an impressive 1.25% from 1.06% at 2Q12 and from 0.98% at 3Q11." Eagle Bancorp closed at $17.84 on Tuesday.