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

Eagle Bancorp (NASDAQ:EGBN) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also commented on EGBN. UBS Group set a $25.00 price objective on Eagle Bancorp in a research report on Tuesday, January 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, January 21st. Finally, Piper Sandler boosted 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.60.

Eagle Bancorp Stock Up 0.8%

Shares of Eagle Bancorp stock opened at $27.49 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a 12-month low of $15.03 and a 12-month high of $29.26. The firm has a market capitalization of $834.87 million, a PE ratio of -6.53 and a beta of 1.04. The stock’s fifty day moving average is $22.28 and its 200-day moving average is $19.94.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.37. The company had revenue of $80.50 million during the quarter, compared to analyst estimates of $67.81 million. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.91%. Equities analysts anticipate that Eagle Bancorp will post 2.31 earnings per share for the current year.

Insider Buying and Selling

In other Eagle Bancorp news, CFO Eric R. Newell bought 3,050 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $16.55 per share, with a total value of $50,477.50. Following the completion of the transaction, the chief financial officer directly owned 33,615 shares of the company’s stock, valued at approximately $556,328.25. The trade was a 9.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Louis P. Jr. Mathews purchased 1,500 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were acquired at an average price of $17.20 per share, for a total transaction of $25,800.00. Following the purchase, the director owned 10,157 shares in the company, valued at $174,700.40. The trade was a 17.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 6,050 shares of company stock valued at $101,538 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Eagle Bancorp

Several institutional investors have recently bought and sold shares of EGBN. Farther Finance Advisors LLC increased its holdings 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 acquiring an additional 782 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Eagle Bancorp by 102.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 753 shares during the last quarter. Financial Consulate Inc. acquired a new stake in Eagle Bancorp in the 3rd quarter worth approximately $34,000. Hantz Financial Services Inc. boosted 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 worth $64,000 after purchasing an additional 2,378 shares during the period. Finally, MAI Capital Management grew its holdings 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 last quarter. 78.03% of the stock is currently 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.