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

Key Points

• Eagle Bancorp was upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment towards the stock.
• Despite the upgrade, Piper Sandler reduced its target price for Eagle Bancorp from $21.00 to $18.00, indicating a cautious outlook.
• Eagle Bancorp reported a significant earnings miss, with an EPS of ($2.30) against a consensus estimate of $0.40, showcasing financial challenges in the recent quarter.

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 report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Piper Sandler dropped their target price on Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. 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 report on Tuesday, June 10th. Wall Street Zen lowered Eagle Bancorp from a "hold" rating to a "strong sell" rating in a report on Saturday, July 26th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Eagle Bancorp in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Eagle Bancorp presently has an average rating of "Hold" and an average price target of $21.00.

Eagle Bancorp Stock Down 0.5%

Shares of Eagle Bancorp stock opened at $21.43 on Monday. Eagle Bancorp has a one year low of $15.47 and a one year high of $30.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.85. The stock's 50-day moving average is $19.20 and its 200 day moving average is $19.15. The firm has a market cap of $650.83 million, a price-to-earnings ratio of -21.01 and a beta of 1.13.

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

Hedge Funds Weigh In On Eagle Bancorp

Several hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Eagle Bancorp by 1,812.4% during the first quarter. GAMMA Investing LLC now owns 68,082 shares of the financial services provider's stock valued at $1,430,000 after buying an additional 64,522 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Eagle Bancorp by 72.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,640 shares of the financial services provider's stock worth $412,000 after buying an additional 8,277 shares during the period. Oppenheimer & Co. Inc. increased its holdings in Eagle Bancorp by 24.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 2,000 shares during the period. Chevy Chase Trust Holdings LLC increased its holdings in Eagle Bancorp by 91.0% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 40,170 shares of the financial services provider's stock valued at $844,000 after purchasing an additional 19,135 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Eagle Bancorp by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 150,357 shares of the financial services provider's stock worth $3,157,000 after acquiring an additional 3,941 shares during the period. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Bancorp

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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