Zacks Research Downgrades Eagle Bancorp (NASDAQ:EGBN) to Hold

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

Several other analysts also recently commented on EGBN. Wall Street Zen raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Raymond James Financial started coverage on shares of 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. UBS Group set a $25.00 price objective on Eagle Bancorp in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, January 21st. Finally, Piper Sandler increased their target price on Eagle Bancorp from $27.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

Eagle Bancorp Stock Up 1.1%

EGBN opened at $26.51 on Tuesday. The stock’s fifty day simple moving average is $25.69 and its 200 day simple moving average is $22.92. Eagle Bancorp has a 1-year low of $15.03 and a 1-year high of $29.26. The stock has a market cap of $804.84 million, a PE ratio of -6.99 and a beta of 0.96. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.20. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.03%. The firm had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $77.37 million. As a group, research analysts expect that Eagle Bancorp will post 1.78 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Illinois Municipal Retirement Fund raised its position in shares of Eagle Bancorp by 10.6% in the first quarter. Illinois Municipal Retirement Fund now owns 14,813 shares of the financial services provider’s stock valued at $368,000 after buying an additional 1,422 shares in the last quarter. Principal Financial Group Inc. grew its position in Eagle Bancorp by 2.1% during the first quarter. Principal Financial Group Inc. now owns 134,598 shares of the financial services provider’s stock worth $3,347,000 after buying an additional 2,776 shares in the last quarter. Fifth Third Bancorp increased its stake in Eagle Bancorp by 10,807.4% during the 1st quarter. Fifth Third Bancorp now owns 5,890 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 5,836 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in Eagle Bancorp in the 1st quarter valued at $879,000. Finally, Sippican Capital Advisors raised its holdings in Eagle Bancorp by 9.0% in the 1st quarter. Sippican Capital Advisors now owns 107,517 shares of the financial services provider’s stock valued at $2,674,000 after acquiring an additional 8,837 shares in the last quarter. Institutional investors and hedge funds 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.