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

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

A number of other brokerages have also recently issued reports on EGBN. Piper Sandler boosted their price objective on Eagle Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Friday, June 5th. Finally, Raymond James Financial initiated coverage on shares of Eagle Bancorp in a research report on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.00.

Eagle Bancorp Price Performance

Shares of EGBN opened at $27.49 on Wednesday. The company’s 50-day moving average is $27.48 and its 200-day moving average is $26.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market capitalization of $838.45 million, a PE ratio of -21.82 and a beta of 0.96. Eagle Bancorp has a fifty-two week low of $15.03 and a fifty-two week high of $29.29.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). The company had revenue of $73.11 million during the quarter, compared to analyst estimates of $74.41 million. Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. Equities analysts forecast that Eagle Bancorp will post 1.62 EPS for the current year.

Institutional Investors Weigh In On Eagle Bancorp

A number of large investors have recently added to or reduced their stakes in EGBN. Versant Capital Management Inc raised its holdings in Eagle Bancorp by 16.2% in the 2nd quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 493 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Eagle Bancorp by 13.3% during the 1st quarter. Royal Bank of Canada now owns 19,279 shares of the financial services provider’s stock worth $479,000 after purchasing an additional 2,263 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Eagle Bancorp by 15.2% during the 1st quarter. Empowered Funds LLC now owns 113,806 shares of the financial services provider’s stock worth $2,830,000 after purchasing an additional 15,006 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Eagle Bancorp by 15.2% in the first quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider’s stock worth $4,673,000 after purchasing an additional 24,842 shares during the period. Finally, Caxton Associates LLP increased its position in shares of Eagle Bancorp by 8.5% in the first quarter. Caxton Associates LLP now owns 62,368 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 4,892 shares during the period. 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.