Eagle Bancorp (NASDAQ:EGBN) Upgraded by Raymond James Financial to Strong-Buy Rating

Raymond James Financial upgraded shares of Eagle Bancorp (NASDAQ:EGBN) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Several other research firms also recently commented on EGBN. Piper Sandler upped their price objective on shares of Eagle Bancorp from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, February 2nd. Wall Street Zen upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, January 21st. UBS Group set a $25.00 price objective on shares of Eagle Bancorp in a report on Tuesday, January 27th. Finally, Zacks Research upgraded shares of Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to 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

NASDAQ EGBN opened at $27.31 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average price is $25.64 and its two-hundred day moving average price is $22.34. Eagle Bancorp has a 1 year low of $15.03 and a 1 year high of $29.26. The firm has a market capitalization of $829.13 million, a P/E ratio of -6.49 and a beta of 0.99.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $80.50 million for the quarter, compared to analyst estimates of $67.81 million. As a group, research analysts anticipate that Eagle Bancorp will post 2.31 EPS for the current year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, February 2nd. Eagle Bancorp’s payout ratio is currently -0.95%.

Hedge Funds Weigh In On Eagle Bancorp

A number of hedge funds have recently bought and sold shares of the business. North Reef Capital Management LP increased its position in Eagle Bancorp by 11.7% during the fourth quarter. North Reef Capital Management LP now owns 2,940,000 shares of the financial services provider’s stock worth $62,975,000 after acquiring an additional 307,082 shares during the period. Wellington Management Group LLP increased its position in Eagle Bancorp by 77.7% during the fourth quarter. Wellington Management Group LLP now owns 1,082,382 shares of the financial services provider’s stock worth $23,185,000 after acquiring an additional 473,361 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Eagle Bancorp by 13.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,010,336 shares of the financial services provider’s stock worth $21,642,000 after acquiring an additional 117,156 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in Eagle Bancorp by 5.4% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 644,957 shares of the financial services provider’s stock worth $13,041,000 after acquiring an additional 32,787 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Eagle Bancorp by 20.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 612,655 shares of the financial services provider’s stock worth $13,123,000 after acquiring an additional 105,702 shares during the period. 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.