Eagle Bancorp (NASDAQ:EGBN) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Eagle Bancorp (NASDAQ:EGBN) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Several other analysts also recently commented on the stock. Piper Sandler raised their price objective on shares of Eagle Bancorp from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, January 21st. Finally, UBS Group set a $25.00 price objective on Eagle Bancorp in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.60.

Eagle Bancorp Stock Performance

Shares of NASDAQ EGBN traded down $0.66 during trading on Tuesday, hitting $25.17. The company had a trading volume of 92,732 shares, compared to its average volume of 373,375. Eagle Bancorp has a 12 month low of $15.03 and a 12 month high of $29.26. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $764.44 million, a P/E ratio of -5.98 and a beta of 1.03. The stock has a 50 day simple moving average of $24.60 and a 200 day simple moving average of $21.21.

Eagle Bancorp (NASDAQ:EGBN) last released its 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 10.91%. The company had revenue of $80.50 million during the quarter, compared to analyst estimates of $67.81 million. As a group, analysts anticipate that Eagle Bancorp will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Eagle Bancorp’s dividend payout ratio (DPR) is -0.95%.

Hedge Funds Weigh In On Eagle Bancorp

Several institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in shares of Eagle Bancorp by 128.6% during the 4th quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider’s stock valued at $30,000 after buying an additional 782 shares in the last quarter. Versant Capital Management Inc increased its stake in Eagle Bancorp by 102.2% during the third 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 last quarter. Financial Consulate Inc. bought a new stake in Eagle Bancorp during the third quarter worth approximately $34,000. Hantz Financial Services Inc. raised its position in Eagle Bancorp by 298.0% during the third quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 2,378 shares during the period. Finally, MAI Capital Management raised its position in Eagle Bancorp by 24.2% during the second quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 671 shares during the period. 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.