Zacks Research Downgrades Eagle Bancorp (NASDAQ:EGBN) to Hold

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

A number of other brokerages have also recently issued reports on EGBN. Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, January 21st. Raymond James Financial initiated coverage on Eagle Bancorp in a report on Tuesday, April 14th. They set a “strong-buy” rating and a $32.00 target price for the company. Piper Sandler boosted their target price on Eagle Bancorp from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Wall Street Zen upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, UBS Group set a $25.00 target price on Eagle Bancorp in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Eagle Bancorp presently has a consensus rating of “Hold” and an average target price of $26.00.

Eagle Bancorp Stock Up 1.1%

Shares of NASDAQ:EGBN opened at $26.51 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.86. Eagle Bancorp has a 1 year low of $15.03 and a 1 year high of $29.26. The stock has a market capitalization of $804.84 million, a P/E ratio of -6.99 and a beta of 0.96. The stock has a 50-day simple moving average of $25.69 and a 200-day simple moving average of $22.92.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.20. Eagle Bancorp had a negative return on equity of 10.03% and a negative net margin of 18.65%.The business had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $77.37 million. Equities analysts forecast that Eagle Bancorp will post 1.78 earnings per share for the current year.

Hedge Funds Weigh In On Eagle Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its holdings in Eagle Bancorp by 128.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 782 shares during the period. Versant Capital Management Inc boosted its holdings in Eagle Bancorp by 102.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 753 shares during the period. Hantz Financial Services Inc. boosted 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 during the period. Tower Research Capital LLC TRC boosted its holdings in Eagle Bancorp by 113.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 2,172 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Eagle Bancorp in the 2nd quarter worth approximately $99,000. 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.