Eagle Bancorp (NASDAQ:EGBN) Rating Lowered to Strong Sell at Zacks Research

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

Several other research firms have also commented on EGBN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, October 8th. Piper Sandler lowered their price target on shares of Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Finally, Wall Street Zen downgraded shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $21.25.

Eagle Bancorp Price Performance

Shares of EGBN opened at $16.52 on Tuesday. The firm has a market capitalization of $501.70 million, a PE ratio of -4.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.86 and a quick ratio of 0.84. Eagle Bancorp has a 1-year low of $15.03 and a 1-year high of $30.94. The company’s fifty day moving average price is $19.61 and its 200-day moving average price is $18.89.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Monday, September 11th. The financial services provider reported $1.20 EPS for the quarter. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.07%. The company had revenue of $88.48 million for the quarter. On average, equities research analysts predict that Eagle Bancorp will post 2.31 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EGBN. Vanguard Group Inc. raised its holdings in Eagle Bancorp by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 2,748,105 shares of the financial services provider’s stock valued at $57,710,000 after acquiring an additional 58,682 shares during the last quarter. Geode Capital Management LLC raised its holdings in Eagle Bancorp by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 733,007 shares of the financial services provider’s stock valued at $14,281,000 after acquiring an additional 4,392 shares during the last quarter. American Century Companies Inc. raised its holdings in Eagle Bancorp by 6.7% in the 1st quarter. American Century Companies Inc. now owns 691,789 shares of the financial services provider’s stock valued at $14,528,000 after acquiring an additional 43,597 shares during the last quarter. Fourthstone LLC raised its holdings in Eagle Bancorp by 63.6% in the 2nd quarter. Fourthstone LLC now owns 644,930 shares of the financial services provider’s stock valued at $12,563,000 after acquiring an additional 250,729 shares during the last quarter. Finally, BlackBarn Capital Partners LP raised its holdings in Eagle Bancorp by 40.0% in the 2nd quarter. BlackBarn Capital Partners LP now owns 532,181 shares of the financial services provider’s stock valued at $10,367,000 after acquiring an additional 152,181 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.