Raymond James Financial Upgrades Eagle Bancorp (NASDAQ:EGBN) to “Strong-Buy”

Eagle Bancorp (NASDAQ:EGBN) was upgraded by investment analysts at Raymond James Financial to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Piper Sandler lifted their target price on shares of Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Wall Street Zen raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, January 21st. UBS Group set a $25.00 target price on shares of Eagle Bancorp in a report on Tuesday, January 27th. Finally, Zacks Research raised shares of Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Eagle Bancorp Stock Performance

EGBN stock opened at $27.31 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86. The company has a 50 day moving average price of $25.64 and a 200 day moving average price of $22.34. Eagle Bancorp has a fifty-two week low of $15.03 and a fifty-two week high of $29.26. The stock has a market capitalization of $829.13 million, a PE ratio of -6.49 and a beta of 0.99.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.37. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.93%. The business had revenue of $80.50 million for the quarter, compared to analyst estimates of $67.81 million. Analysts forecast that Eagle Bancorp will post 2.31 EPS for the current year.

Hedge Funds Weigh In On Eagle Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in shares of Eagle Bancorp by 128.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 782 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Eagle Bancorp by 102.2% during the third quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 753 shares in the last quarter. Financial Consulate Inc. bought a new position in shares of Eagle Bancorp during the third quarter worth $34,000. Hantz Financial Services Inc. boosted its position in shares of Eagle Bancorp by 298.0% during the third quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 2,378 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Eagle Bancorp by 113.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 2,172 shares in the last quarter. 78.03% of the stock is owned by institutional investors.

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.