Raymond James Financial Upgrades Eagle Bancorp (NASDAQ:EGBN) to "Strong-Buy"

Key Points

• Raymond James Financial upgraded Eagle Bancorp (NASDAQ:EGBN) to a Strong-Buy; Zacks also upgraded to Strong-Buy and the analyst consensus is a "Moderate Buy" with a $25 consensus target price.
• Eagle Bancorp beat expectations last quarter with $0.25 EPS (vs. -$0.12 est.) and $80.5M revenue (vs. $67.8M est.), but still reports a negative return on equity (-10.93%) and a negative net margin (-20.19%).
• Shares opened at $27.31 (up ~2.6%), the stock has a market cap of about $829M, a 12‑month range of $15.03–$29.26, and institutional investors own roughly 78% of the stock.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) was upgraded by investment analysts at Raymond James Financial to a "strong-buy" rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Piper Sandler upped their price target on Eagle Bancorp from $23.00 to $27.00 and gave the company a "neutral" rating in a report on Monday, February 2nd. Weiss Ratings reiterated a "sell (d)" rating on shares of Eagle Bancorp in a research note on Wednesday, January 21st. Wall Street Zen upgraded Eagle Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Zacks Research upgraded Eagle Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 6th. Finally, UBS Group set a $25.00 price objective on Eagle Bancorp in a research note on Tuesday, January 27th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

Eagle Bancorp Trading Up 2.6%

Eagle Bancorp stock opened at $27.31 on Tuesday. The business has a 50 day moving average price of $25.64 and a two-hundred day moving average price of $22.34. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.07. The stock has a market cap of $829.13 million, a price-to-earnings ratio of -6.49 and a beta of 0.99. Eagle Bancorp has a 12 month low of $15.03 and a 12 month high of $29.26.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.37. The firm had revenue of $80.50 million during the quarter, compared to analysts' expectations of $67.81 million. Eagle Bancorp had a negative return on equity of 10.93% and a negative net margin of 20.19%. As a group, equities analysts forecast that Eagle Bancorp will post 2.31 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EGBN. Versant Capital Management Inc raised its position in Eagle Bancorp by 102.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider's stock worth $30,000 after purchasing an additional 753 shares during the last quarter. Farther Finance Advisors LLC raised its position in Eagle Bancorp by 128.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider's stock worth $30,000 after purchasing an additional 782 shares during the last quarter. Financial Consulate Inc. bought a new position in Eagle Bancorp in the 3rd quarter worth approximately $34,000. Hantz Financial Services Inc. raised its position in Eagle Bancorp by 298.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider's stock worth $64,000 after purchasing an additional 2,378 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Eagle Bancorp by 113.1% in the 2nd 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. Institutional investors own 78.03% of the company's stock.

Eagle Bancorp Company Profile

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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