Eagle Bancorp (NASDAQ:EGBN) Rating Increased to Strong-Buy at Zacks Research

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

Several other research analysts have also recently issued reports on the company. Wall Street Zen raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. UBS Group set a $25.00 target price on Eagle Bancorp in a research report on Tuesday, January 27th. Piper Sandler raised their target price on Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, January 21st. One equities research 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’s stock. According to data from MarketBeat, Eagle Bancorp presently has an average rating of “Hold” and an average price target of $23.60.

Eagle Bancorp Stock Performance

Shares of Eagle Bancorp stock traded up $0.93 during trading on Monday, hitting $26.89. 53,064 shares of the company’s stock traded hands, compared to its average volume of 351,840. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86. Eagle Bancorp has a 1 year low of $15.03 and a 1 year high of $29.26. The stock has a market capitalization of $816.31 million, a P/E ratio of -6.40 and a beta of 0.99. The business has a 50-day simple moving average of $25.65 and a 200-day simple moving average of $22.11.

Eagle Bancorp (NASDAQ:EGBN) last announced 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. The business had revenue of $80.50 million for the quarter, compared to analysts’ expectations of $67.81 million. Eagle Bancorp had a negative return on equity of 10.93% and a negative net margin of 20.19%. As a group, analysts forecast that Eagle Bancorp will post 2.31 EPS for the current year.

Eagle Bancorp Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Versant Capital Management Inc lifted its position in shares of Eagle Bancorp by 102.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock valued at $30,000 after buying an additional 753 shares in the last quarter. Farther Finance Advisors LLC lifted 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. Financial Consulate Inc. purchased a new position in shares of Eagle Bancorp during the 3rd quarter valued at about $34,000. Hantz Financial Services Inc. lifted its position in shares of Eagle Bancorp by 298.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider’s stock valued at $64,000 after buying an additional 2,378 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Eagle Bancorp by 113.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock valued at $80,000 after buying an additional 2,172 shares in the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.