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Eagle Bancorp (NASDAQ:EGBN) Stock Rating Upgraded by Wall Street Zen

Eagle Bancorp logo with Finance background

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

Several other brokerages also recently commented on EGBN. Jefferies Financial Group set a $20.00 target price on Eagle Bancorp and gave the company a "hold" rating in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods cut their target price on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Janney Montgomery Scott upgraded Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price on the stock in a research note on Tuesday, June 10th. Finally, Piper Sandler cut their target price on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Eagle Bancorp currently has a consensus rating of "Hold" and a consensus target price of $21.75.

Check Out Our Latest Report on EGBN

Eagle Bancorp Stock Up 0.5%

Shares of Eagle Bancorp stock traded up $0.11 during midday trading on Friday, hitting $21.56. The company had a trading volume of 182,377 shares, compared to its average volume of 334,498. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $654.93 million, a P/E ratio of -14.36 and a beta of 1.05. The company has a 50 day moving average of $18.81 and a 200 day moving average of $21.07. Eagle Bancorp has a 52-week low of $16.68 and a 52-week high of $30.94.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.40). The company had revenue of $73.86 million during the quarter, compared to analysts' expectations of $71.93 million. Eagle Bancorp had a positive return on equity of 4.86% and a negative net margin of 6.52%. On average, equities analysts predict that Eagle Bancorp will post 2.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eagle Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Millstone Evans Group LLC purchased a new position in shares of Eagle Bancorp in the 4th quarter worth $59,000. Russell Investments Group Ltd. lifted its position in Eagle Bancorp by 42.0% during the fourth quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 933 shares in the last quarter. New York State Common Retirement Fund lifted its position in Eagle Bancorp by 13.2% during the first quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider's stock valued at $180,000 after purchasing an additional 1,000 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Eagle Bancorp during the first quarter valued at $205,000. Finally, Aigen Investment Management LP purchased a new position in Eagle Bancorp during the first quarter valued at $209,000. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Bancorp

(Get Free Report)

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.

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