Eagle Bancorp (NASDAQ:EGBN) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of Eagle Bancorp (NASDAQ:EGBN) from a hold rating to a strong sell rating in a research report report published on Saturday.

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reduced their target price on shares of Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Jefferies Financial Group set a $20.00 target price on shares of Eagle Bancorp and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Piper Sandler reduced their target price on shares of Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Finally, Janney Montgomery Scott upgraded shares of Eagle Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.75.

Eagle Bancorp Stock Performance

Shares of EGBN stock opened at $16.57 on Friday. The firm has a 50-day moving average of $18.80 and a 200-day moving average of $20.83. The company has a market cap of $503.40 million, a P/E ratio of -16.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.85. Eagle Bancorp has a one year low of $15.74 and a one year high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported ($2.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($2.70). Eagle Bancorp had a negative return on equity of 2.54% and a negative net margin of 4.60%. The company had revenue of $74.19 million for the quarter, compared to analysts’ expectations of $73.03 million. Equities research analysts forecast that Eagle Bancorp will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 8th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, August 8th. Eagle Bancorp’s payout ratio is -64.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Eagle Bancorp by 72.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,640 shares of the financial services provider’s stock valued at $412,000 after buying an additional 8,277 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Eagle Bancorp by 24.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider’s stock valued at $213,000 after buying an additional 2,000 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Eagle Bancorp by 1,812.4% during the 1st quarter. GAMMA Investing LLC now owns 68,082 shares of the financial services provider’s stock valued at $1,430,000 after buying an additional 64,522 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its holdings in shares of Eagle Bancorp by 91.0% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 40,170 shares of the financial services provider’s stock valued at $844,000 after buying an additional 19,135 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Eagle Bancorp during the 4th quarter valued at $515,000. 78.03% of the stock is owned by hedge funds and other institutional investors.

About Eagle Bancorp

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.