Eagle Bancorp (NASDAQ:EGBN) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a hold rating to a sell rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “EAGLE BANCORP is the holding company for EagleBank. The Bank is headquartered in Bethesda, Maryland, and conducts full service commercial banking services through nine offices, located in Montgomery County, Maryland and Washington, D.C. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace. “

Other equities research analysts also recently issued reports about the stock. FIG Partners reiterated an outperform rating on shares of Eagle Bancorp in a report on Wednesday, April 3rd. Boenning Scattergood reiterated an outperform rating on shares of Eagle Bancorp in a report on Thursday, April 18th. ValuEngine upgraded shares of Eagle Bancorp from a sell rating to a hold rating in a report on Friday, May 24th. BidaskClub upgraded shares of Eagle Bancorp from a hold rating to a buy rating in a report on Thursday, May 30th. Finally, Stephens downgraded shares of Eagle Bancorp from an overweight rating to an equal weight rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $63.00.

Shares of NASDAQ EGBN opened at $54.95 on Wednesday. The stock has a market capitalization of $1.90 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97. Eagle Bancorp has a 52 week low of $45.15 and a 52 week high of $65.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.02). The firm had revenue of $81.02 million for the quarter, compared to analyst estimates of $82.25 million. Eagle Bancorp had a return on equity of 14.28% and a net margin of 34.72%. Eagle Bancorp’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 earnings per share. As a group, equities research analysts expect that Eagle Bancorp will post 4.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.22 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.60%. Eagle Bancorp’s payout ratio is 19.91%.

Institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC purchased a new stake in Eagle Bancorp during the fourth quarter worth approximately $45,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Eagle Bancorp by 39.3% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,010 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 285 shares in the last quarter. Flinton Capital Management LLC acquired a new position in shares of Eagle Bancorp during the fourth quarter worth $80,000. Neuburgh Advisers LLC acquired a new position in shares of Eagle Bancorp during the fourth quarter worth $98,000. Finally, Pearl River Capital LLC acquired a new position in shares of Eagle Bancorp during the first quarter worth $104,000. Hedge funds and other institutional investors own 76.01% of the company’s stock.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. It accepts business and personal checking, NOW, tiered savings, and money market accounts, as well as individual retirement and investment sweep accounts; and time deposits.

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