Eagle Bancorp (NASDAQ:EGBN) Issues Quarterly Earnings Results

Eagle Bancorp (NASDAQ:EGBN) released its earnings results on Wednesday. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11), FiscalAI reports. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.03%. The company had revenue of $73.11 million during the quarter, compared to analysts’ expectations of $74.41 million.

Eagle Bancorp Stock Performance

Shares of NASDAQ EGBN traded down $0.34 during midday trading on Wednesday, hitting $26.92. The company’s stock had a trading volume of 232,681 shares, compared to its average volume of 320,897. The stock has a fifty day moving average price of $27.11 and a 200 day moving average price of $25.97. Eagle Bancorp has a one year low of $15.03 and a one year high of $29.29. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $821.09 million, a price-to-earnings ratio of -7.10 and a beta of 0.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in shares of Eagle Bancorp by 113.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 2,172 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Eagle Bancorp in the second quarter worth $99,000. iSAM Funds UK Ltd purchased a new position in shares of Eagle Bancorp in the third quarter valued at $169,000. Kestra Advisory Services LLC purchased a new position in shares of Eagle Bancorp in the fourth quarter valued at $174,000. Finally, Caption Management LLC bought a new stake in shares of Eagle Bancorp during the 3rd quarter valued at $202,000. 78.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James Financial began coverage on Eagle Bancorp in a report on Tuesday, April 14th. They set a “strong-buy” rating and a $32.00 price objective for the company. Piper Sandler boosted their target price on Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Zacks Research cut Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.00.

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.