In a report published Wednesday, Keefe, Bruyette & Woods analyst Catherine Mealor upgraded the rating on Eagle Bancorp EGBN from Market Perform to Outperform, and reiterated the $37.00 price target.
In the report, Keefe, Bruyette & Woods noted, “We are upgrading EGBN to Outperform as we believe the recent sell-off in the shares is over done. We view EGBN as a high-performing bank that delivers best-in-class profitability (1.3% ROA / 14.5% ROTCE / 48% efficiency expected in 2014) and strong credit quality, and should continue to grow loans at a double-digit pace. The stock is down 14% since March and is now trading at only 13.3x 2015 EPS and 2.3x TBV. Our PT of $37 offers 18% upside from the current price.”
Eagle Bancorp closed on Tuesday at $31.24.
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