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

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Several other research analysts also recently issued reports on EGBN. Wall Street Zen raised Eagle Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Piper Sandler boosted their target price on shares of Eagle Bancorp from $27.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. Raymond James Financial began coverage on shares of Eagle Bancorp in a research note on Tuesday, April 14th. They issued a "strong-buy" rating and a $32.00 target price for the company. Weiss Ratings reissued a "sell (d)" rating on shares of Eagle Bancorp in a research note on Wednesday, January 21st. Finally, UBS Group set a $25.00 target price on shares of Eagle Bancorp in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Eagle Bancorp has an average rating of "Hold" and a consensus price target of $26.00.

Eagle Bancorp Trading Up 1.1%

NASDAQ:EGBN opened at $26.51 on Tuesday. The company has a market capitalization of $804.84 million, a PE ratio of -6.99 and a beta of 0.96. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a 52-week low of $15.03 and a 52-week high of $29.26. The stock has a fifty day simple moving average of $25.69 and a 200-day simple moving average of $22.92.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.20. The business had revenue of $76.40 million during the quarter, compared to the consensus estimate of $77.37 million. Eagle Bancorp had a negative return on equity of 10.03% and a negative net margin of 18.65%. On average, equities research analysts expect that Eagle Bancorp will post 1.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. North Reef Capital Management LP increased its stake in shares of Eagle Bancorp by 558.2% during the 3rd quarter. North Reef Capital Management LP now owns 2,632,918 shares of the financial services provider's stock valued at $53,238,000 after acquiring an additional 2,232,918 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Eagle Bancorp by 851.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 143,480 shares of the financial services provider's stock valued at $2,901,000 after acquiring an additional 128,396 shares during the last quarter. SummerHaven Investment Management LLC acquired a new position in shares of Eagle Bancorp during the 3rd quarter valued at about $806,000. Sippican Capital Advisors increased its stake in shares of Eagle Bancorp by 161.3% during the 4th quarter. Sippican Capital Advisors now owns 98,680 shares of the financial services provider's stock valued at $2,114,000 after acquiring an additional 60,920 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Eagle Bancorp by 43.1% in the third quarter. Quantbot Technologies LP now owns 70,393 shares of the financial services provider's stock valued at $1,423,000 after acquiring an additional 21,194 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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