Eagle Bancorp (NASDAQ:EGBN) Downgraded by Zacks Research to Strong Sell

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

EGBN has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Friday, June 5th. Raymond James Financial initiated coverage on Eagle Bancorp in a research report on Tuesday, April 14th. They set a “strong-buy” rating and a $32.00 price objective for the company. Finally, Piper Sandler upped 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. 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. According to MarketBeat.com, Eagle Bancorp presently has a consensus rating of “Hold” and a consensus target price of $29.00.

Eagle Bancorp Stock Performance

Shares of Eagle Bancorp stock opened at $27.49 on Wednesday. The company has a 50 day moving average of $27.48 and a 200-day moving average of $26.28. The company has a market cap of $838.45 million, a PE ratio of -21.82 and a beta of 0.96. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a 1-year low of $15.03 and a 1-year high of $29.29.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data 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 net margin of 6.43% and a negative return on equity of 3.37%. The firm had revenue of $73.11 million for the quarter, compared to analyst estimates of $74.41 million. As a group, equities research analysts forecast that Eagle Bancorp will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of Eagle Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Eagle Bancorp by 851.2% during the third quarter. JPMorgan Chase & Co. now owns 143,480 shares of the financial services provider’s stock worth $2,901,000 after buying an additional 128,396 shares in the last quarter. Sippican Capital Advisors lifted its stake in shares of Eagle Bancorp by 161.3% in the 4th quarter. Sippican Capital Advisors now owns 98,680 shares of the financial services provider’s stock valued at $2,114,000 after acquiring an additional 60,920 shares during the last quarter. Inscription Capital LLC acquired a new stake in shares of Eagle Bancorp during the 4th quarter valued at $495,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Eagle Bancorp during the 4th quarter valued at $394,000. Finally, UBS Group AG grew its position in Eagle Bancorp by 20.5% during the 4th quarter. UBS Group AG now owns 274,950 shares of the financial services provider’s stock worth $5,889,000 after acquiring an additional 46,777 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 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.