Eagle Bancorp's (EGBN) Sell (D) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D)" rating on Eagle Bancorp (EGBN), indicating strong concerns about the stock's performance.
• Other analysts have varied opinions, with some downgrading to "strong sell" while one raised the rating to "buy," demonstrating mixed sentiment among market experts.
• Eagle Bancorp shares have recently traded down by 2.2%, reaching $20.96, amidst a challenging earnings report that saw a significant miss on EPS expectations.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report)'s stock had its "sell (d)" rating reissued by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently commented on EGBN. Wall Street Zen downgraded shares of Eagle Bancorp from a "hold" rating to a "strong sell" rating in a report on Saturday, July 26th. Piper Sandler reduced their price objective on shares of Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Janney Montgomery Scott raised shares of Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective for the company in a report on Tuesday, June 10th. Finally, Zacks Research raised shares of Eagle Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Eagle Bancorp currently has a consensus rating of "Hold" and a consensus target price of $21.00.

Eagle Bancorp Trading Down 2.2%

Shares of EGBN stock traded down $0.47 during trading hours on Wednesday, reaching $20.96. 273,343 shares of the stock traded hands, compared to its average volume of 506,211. Eagle Bancorp has a 1-year low of $15.47 and a 1-year high of $30.94. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $636.56 million, a PE ratio of -20.55 and a beta of 1.13. The business has a fifty day moving average price of $19.30 and a 200 day moving average price of $19.17.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC boosted its holdings in shares of Eagle Bancorp by 41.6% in the second quarter. Squarepoint Ops LLC now owns 134,893 shares of the financial services provider's stock valued at $2,628,000 after buying an additional 39,649 shares during the period. Caxton Associates LLP boosted its holdings in shares of Eagle Bancorp by 11.0% in the second quarter. Caxton Associates LLP now owns 39,630 shares of the financial services provider's stock valued at $772,000 after buying an additional 3,921 shares during the period. Public Sector Pension Investment Board boosted its holdings in Eagle Bancorp by 8.1% during the second quarter. Public Sector Pension Investment Board now owns 103,569 shares of the financial services provider's stock worth $2,018,000 after purchasing an additional 7,769 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Eagle Bancorp by 113.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider's stock worth $80,000 after purchasing an additional 2,172 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in Eagle Bancorp by 11.2% during the second quarter. Rafferty Asset Management LLC now owns 53,031 shares of the financial services provider's stock worth $1,033,000 after purchasing an additional 5,324 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company's stock.

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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