Eagle Bancorp (NASDAQ:EGBN) Stock Rating Lowered by Zacks Research

Eagle Bancorp (NASDAQ:EGBN) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, January 21st. Piper Sandler raised their target price on Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, UBS Group set a $25.00 price target on Eagle Bancorp in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $23.60.

Eagle Bancorp Price Performance

Shares of NASDAQ:EGBN opened at $25.83 on Tuesday. Eagle Bancorp has a twelve month low of $15.03 and a twelve month high of $29.26. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The company has a market cap of $784.48 million, a PE ratio of -6.14 and a beta of 1.03. The company’s 50 day moving average is $24.60 and its 200 day moving average is $21.21.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.37. The business had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $67.81 million. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.91%. On average, sell-side analysts forecast that Eagle Bancorp will post 2.31 EPS for the current year.

Hedge Funds Weigh In On Eagle Bancorp

A number of hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc grew its holdings in Eagle Bancorp by 102.2% in the third quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 753 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Eagle Bancorp by 128.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider’s stock valued at $30,000 after buying an additional 782 shares in the last quarter. Financial Consulate Inc. acquired a new stake in Eagle Bancorp in the 3rd quarter valued at $34,000. Hantz Financial Services Inc. increased its holdings in Eagle Bancorp by 298.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 2,378 shares in the last quarter. Finally, MAI Capital Management raised its position in Eagle Bancorp by 24.2% during the second quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 671 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.

About Eagle Bancorp

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company’s product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.