Eagle Bancorp (NASDAQ:EGBN) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Eagle Bancorp (NASDAQ:EGBN) from a hold rating to a strong sell rating in a research note published on Wednesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Piper Sandler lifted their target price on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Raymond James Financial started coverage on Eagle Bancorp in a report on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eagle Bancorp presently has a consensus rating of “Hold” and an average price target of $29.00.

Eagle Bancorp Price Performance

EGBN opened at $27.49 on Wednesday. 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 stock has a fifty day simple moving average of $27.48 and a two-hundred day simple moving average of $26.28. The company has a market cap of $838.45 million, a price-to-earnings ratio of -21.82 and a beta of 0.96. Eagle Bancorp has a 12-month low of $15.03 and a 12-month high of $29.29.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). The business had revenue of $73.11 million for the quarter, compared to analysts’ expectations of $74.41 million. Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. Research analysts predict that Eagle Bancorp will post 1.62 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Thursday, August 6th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. Eagle Bancorp’s dividend payout ratio (DPR) is -3.17%.

Institutional Trading of Eagle Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its stake in shares of Eagle Bancorp by 16.2% in the second quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 493 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Eagle Bancorp by 13.3% during the first quarter. Royal Bank of Canada now owns 19,279 shares of the financial services provider’s stock valued at $479,000 after buying an additional 2,263 shares during the last quarter. Empowered Funds LLC increased its holdings in Eagle Bancorp by 15.2% in the 1st quarter. Empowered Funds LLC now owns 113,806 shares of the financial services provider’s stock worth $2,830,000 after buying an additional 15,006 shares in the last quarter. Quantinno Capital Management LP raised its position in Eagle Bancorp by 15.2% in the 1st quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider’s stock worth $4,673,000 after buying an additional 24,842 shares during the last quarter. Finally, Caxton Associates LLP lifted its stake in Eagle Bancorp by 8.5% during the 1st quarter. Caxton Associates LLP now owns 62,368 shares of the financial services provider’s stock valued at $1,551,000 after acquiring an additional 4,892 shares during the period. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Bancorp Company Profile

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.