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

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

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

Eagle Bancorp Stock Performance

EGBN stock opened at $27.49 on Wednesday. The stock has a market capitalization of $838.45 million, a price-to-earnings ratio of -21.82 and a beta of 0.96. The stock’s fifty day moving average is $27.48 and its two-hundred day moving average is $26.28. Eagle Bancorp has a 1 year low of $15.03 and a 1 year high of $29.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.87.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results 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). Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%.The firm had revenue of $73.11 million during the quarter, compared to the consensus estimate of $74.41 million. On average, research analysts predict that Eagle Bancorp will post 1.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC raised its holdings in 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. Cassaday & Co Wealth Management LLC bought a new position in Eagle Bancorp during the first quarter valued at about $37,000. Tower Research Capital LLC TRC boosted its stake in 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 valued at $80,000 after buying an additional 2,172 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Eagle Bancorp during the second quarter worth about $99,000. Finally, Versant Capital Management Inc grew its holdings in Eagle Bancorp by 16.2% during the second quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 493 shares during the period. Institutional investors and hedge funds own 78.03% of the company’s stock.

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.