Eagle Bancorp (NASDAQ:EGBN) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Eagle Bancorp from “strong sell” to “hold,” while analysts overall maintain a consensus “hold” rating with an average price target of $29.00.
• Eagle Bancorp’s shares opened at $27.57, down 0.2%, after the company reported quarterly EPS of $0.23—below the $0.34 consensus estimate—and revenue of $73.11 million versus expectations of $74.41 million.
• Institutional investors own 78.03% of the company, with several major funds increasing their positions, including North Reef Capital, Wellington Management, T. Rowe Price, and California State Teachers Retirement System.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented 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 research report on Friday, June 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eagle Bancorp in a report on Friday, June 5th. One research 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 data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $29.00.

Eagle Bancorp Stock Down 0.2%

Eagle Bancorp stock opened at $27.57 on Thursday. The firm has a market capitalization of $840.44 million, a P/E ratio of -21.88 and a beta of 0.96. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a twelve month low of $15.03 and a twelve month high of $29.29. The stock's fifty day simple moving average is $27.82 and its 200-day simple moving average is $26.70.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its 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). Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. The company had revenue of $73.11 million during the quarter, compared to analysts' expectations of $74.41 million. As a group, equities analysts expect that Eagle Bancorp will post 1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eagle Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stone Point Capital LLC purchased a new position in Eagle Bancorp in the second quarter valued at approximately $21,660,548,000. North Reef Capital Management LP lifted its position in shares of Eagle Bancorp by 11.7% during the 4th quarter. North Reef Capital Management LP now owns 2,940,000 shares of the financial services provider's stock worth $62,975,000 after buying an additional 307,082 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Eagle Bancorp by 5.9% in the 2nd quarter. Wellington Management Group LLP now owns 1,233,336 shares of the financial services provider's stock valued at $35,014,000 after buying an additional 68,314 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Eagle Bancorp by 13.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,010,336 shares of the financial services provider's stock valued at $21,642,000 after buying an additional 117,156 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in shares of Eagle Bancorp by 3,468.8% in the 2nd quarter. California State Teachers Retirement System now owns 1,009,293 shares of the financial services provider's stock valued at $28,654,000 after buying an additional 981,012 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company's stock.

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.

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