Eagle Bancorp (NASDAQ:EGBN) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS

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

Eagle Bancorp Trading Down 1.2%

Shares of NASDAQ:EGBN traded down $0.34 during trading on Wednesday, reaching $26.92. 232,482 shares of the company were exchanged, compared to its average volume of 320,897. The firm has a market capitalization of $821.09 million, a PE ratio of -7.10 and a beta of 0.96. The business’s fifty day simple moving average is $27.11 and its 200-day simple moving average is $25.97. Eagle Bancorp has a 12-month low of $15.03 and a 12-month high of $29.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.86 and a quick ratio of 0.86.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EGBN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Eagle Bancorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 780 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Eagle Bancorp by 0.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 292,824 shares of the financial services provider’s stock worth $6,272,000 after purchasing an additional 1,689 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in 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 valued at $80,000 after purchasing an additional 2,172 shares in the last quarter. California State Teachers Retirement System grew its stake in Eagle Bancorp by 9.9% in the fourth quarter. California State Teachers Retirement System now owns 30,967 shares of the financial services provider’s stock valued at $663,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in Eagle Bancorp by 20.8% in the second quarter. Cerity Partners LLC now owns 16,689 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 2,871 shares in the last quarter. Institutional investors own 78.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EGBN shares. Raymond James Financial assumed coverage on shares of Eagle Bancorp in a research report on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 price target on the stock. Zacks Research downgraded shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Piper Sandler upped their target price on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.