Eagle Bancorp (NASDAQ:EGBN) Raised to “Hold” at Zacks Research

Eagle Bancorp (NASDAQ:EGBN) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Piper Sandler boosted their price target on shares of Eagle Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.00.

Eagle Bancorp Price Performance

NASDAQ:EGBN opened at $27.57 on Thursday. The stock has a 50 day moving average of $27.82 and a two-hundred day moving average of $26.70. Eagle Bancorp has a 12 month low of $15.03 and a 12 month high of $29.29. The firm has a market cap of $840.44 million, a P/E ratio of -21.88 and a beta of 0.96. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.11). The firm had revenue of $73.11 million during the quarter, compared to analyst estimates of $74.41 million. Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. On average, analysts expect that Eagle Bancorp will post 1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EGBN. Stone Point Capital LLC acquired a new position in Eagle Bancorp during the second quarter worth $21,660,548,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Eagle Bancorp in the fourth quarter valued at $394,000. Hsbc Holdings PLC acquired a new stake in shares of Eagle Bancorp in the fourth quarter valued at $535,000. Quantinno Capital Management LP raised its holdings in shares of 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 valued at $4,673,000 after buying an additional 24,842 shares during the period. Finally, UBS Group AG lifted its stake in Eagle Bancorp by 20.5% during the 4th quarter. UBS Group AG now owns 274,950 shares of the financial services provider’s stock worth $5,889,000 after acquiring an additional 46,777 shares in the last quarter. Institutional investors and hedge funds 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.