Eagle Bancorp (NASDAQ:EGBN) Upgraded at Zacks Research

Zacks Research upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently commented on EGBN. Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, January 21st. UBS Group set a $25.00 target price on Eagle Bancorp in a research report on Tuesday, January 27th. Finally, Piper Sandler raised their price target on Eagle Bancorp from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.60.

Eagle Bancorp Stock Down 0.2%

EGBN opened at $27.43 on Monday. The firm’s fifty day moving average price is $22.45 and its two-hundred day moving average price is $19.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $833.05 million, a P/E ratio of -6.52 and a beta of 1.04. Eagle Bancorp has a fifty-two week low of $15.03 and a fifty-two week high of $29.26.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.37. The company had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $67.81 million. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.91%. On average, analysts anticipate that Eagle Bancorp will post 2.31 EPS for the current year.

Eagle Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 2nd will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Monday, February 2nd. Eagle Bancorp’s payout ratio is -0.95%.

Insider Activity

In other Eagle Bancorp news, Director Louis P. Jr. Mathews bought 1,500 shares of Eagle Bancorp stock in a transaction that occurred on Friday, November 21st. The stock was acquired at an average price of $17.20 per share, for a total transaction of $25,800.00. Following the completion of the acquisition, the director owned 10,157 shares of the company’s stock, valued at $174,700.40. This trade represents a 17.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Eric R. Newell acquired 3,050 shares of the stock in a transaction dated Friday, November 14th. The shares were purchased at an average price of $16.55 per share, for a total transaction of $50,477.50. Following the completion of the purchase, the chief financial officer directly owned 33,615 shares in the company, valued at $556,328.25. The trade was a 9.98% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 6,050 shares of company stock valued at $101,538 over the last ninety days. 3.39% of the stock is owned by insiders.

Institutional Trading of Eagle Bancorp

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Eagle Bancorp by 8.9% during the 1st quarter. AQR Capital Management LLC now owns 219,930 shares of the financial services provider’s stock valued at $4,619,000 after acquiring an additional 17,943 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Eagle Bancorp by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 780 shares in the last quarter. Millennium Management LLC lifted its position in shares of Eagle Bancorp by 164.6% during the 1st quarter. Millennium Management LLC now owns 314,370 shares of the financial services provider’s stock valued at $6,602,000 after acquiring an additional 195,567 shares during the period. Empowered Funds LLC boosted its position in shares of Eagle Bancorp by 65.0% during the 1st quarter. Empowered Funds LLC now owns 91,087 shares of the financial services provider’s stock worth $1,913,000 after purchasing an additional 35,898 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Eagle Bancorp by 8.0% during the second quarter. State of Alaska Department of Revenue now owns 18,074 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 1,339 shares in the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.

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.