Eagle Bancorp (NASDAQ:EGBN) Downgraded to Strong Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Eagle Bancorp from a "hold" rating to a "strong sell" rating, reflecting growing concerns over the company's financial performance.
• The company reported a significant earnings miss, with an EPS of ($2.30), falling short of expectations by ($2.70), indicating ongoing struggles in profitability.
• Institutional investors hold a majority stake (78.03%) in Eagle Bancorp, with recent increases in holdings by notable firms like Cambridge Investment Research Advisors and GAMMA Investing.

Wall Street Zen lowered shares of Eagle Bancorp (NASDAQ:EGBN - Free Report) from a hold rating to a strong sell rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the stock. Piper Sandler decreased their target price on shares of Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Janney Montgomery Scott upgraded shares of Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Tuesday, June 10th. Jefferies Financial Group set a $20.00 target price on shares of Eagle Bancorp and gave the company a "hold" rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.75.

Eagle Bancorp Stock Performance

EGBN stock traded down $0.11 during trading on Friday, reaching $16.46. The company had a trading volume of 508,934 shares, compared to its average volume of 502,418. The firm has a 50-day simple moving average of $18.80 and a 200-day simple moving average of $20.83. The company has a market cap of $500.05 million, a price-to-earnings ratio of -16.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85. Eagle Bancorp has a twelve month low of $15.74 and a twelve month high of $30.94.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported ($2.30) EPS for the quarter, missing the consensus estimate of $0.40 by ($2.70). Eagle Bancorp had a negative net margin of 4.60% and a negative return on equity of 2.54%. The business had revenue of $74.19 million for the quarter, compared to analyst estimates of $73.03 million. As a group, sell-side analysts expect that Eagle Bancorp will post 2.31 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 8th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Friday, August 8th. Eagle Bancorp's payout ratio is presently -64.71%.

Institutional Investors Weigh In On Eagle Bancorp

A number of large investors have recently modified their holdings of the business. LPL Financial LLC lifted its position in shares of Eagle Bancorp by 2.4% during the fourth quarter. LPL Financial LLC now owns 20,246 shares of the financial services provider's stock worth $527,000 after purchasing an additional 467 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Eagle Bancorp by 3.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,801 shares of the financial services provider's stock valued at $437,000 after buying an additional 488 shares during the last quarter. Quantinno Capital Management LP grew its position in Eagle Bancorp by 5.7% in the 4th quarter. Quantinno Capital Management LP now owns 11,146 shares of the financial services provider's stock valued at $290,000 after buying an additional 601 shares during the last quarter. CWM LLC boosted its position in shares of Eagle Bancorp by 5.5% during the 1st quarter. CWM LLC now owns 15,287 shares of the financial services provider's stock worth $321,000 after purchasing an additional 802 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Eagle Bancorp by 5.6% in the 1st quarter. Inspire Investing LLC now owns 16,339 shares of the financial services provider's stock worth $343,000 after buying an additional 860 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company's stock.

Eagle Bancorp Company Profile

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.