Eagle Bancorp (NASDAQ:EGBN) Upgraded to Hold at Zacks Research

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

Other research analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Friday, June 5th. Piper Sandler lifted their price objective 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.00.

Eagle Bancorp Trading Down 0.2%

NASDAQ EGBN opened at $27.57 on Thursday. The firm’s fifty day moving average is $27.82 and its two-hundred day moving average is $26.70. Eagle Bancorp has a one year low of $15.03 and a one year high of $29.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market cap of $840.44 million, a PE ratio of -21.88 and a beta of 0.96.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). The company had revenue of $73.11 million for the quarter, compared to analysts’ expectations of $74.41 million. Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%. Analysts expect that Eagle Bancorp will post 1.52 earnings per share for the current year.

Hedge Funds Weigh In On Eagle Bancorp

Large investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its holdings in shares of Eagle Bancorp by 128.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider’s stock valued at $30,000 after buying an additional 782 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in Eagle Bancorp during the first quarter worth $37,000. Public Employees Retirement System of Ohio purchased a new position in Eagle Bancorp in the second quarter worth $39,000. Tower Research Capital LLC TRC lifted its holdings in Eagle Bancorp by 113.1% in 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 acquiring an additional 2,172 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Eagle Bancorp in the second quarter valued at $99,000. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.