Eagle Bancorp (NASDAQ:EGBN) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on EGBN. Piper Sandler increased their target price on shares of Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, January 21st. Finally, UBS Group set a $25.00 price target on shares of Eagle Bancorp in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Eagle Bancorp presently has an average rating of “Hold” and an average target price of $23.60.

Eagle Bancorp Price Performance

EGBN opened at $25.51 on Tuesday. The stock’s 50-day moving average price is $24.68 and its 200 day moving average price is $21.24. Eagle Bancorp has a 12-month low of $15.03 and a 12-month high of $29.26. The firm has a market cap of $774.74 million, a price-to-earnings ratio of -6.06 and a beta of 1.03. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.37. The company had revenue of $80.50 million for the quarter, compared to analyst estimates of $67.81 million. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.91%. 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 company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Eagle Bancorp’s payout ratio is presently -0.95%.

Institutional Investors Weigh In On Eagle Bancorp

A number of institutional investors have recently added to or reduced their stakes in EGBN. North Reef Capital Management LP raised its stake in shares of Eagle Bancorp by 558.2% during the 3rd quarter. North Reef Capital Management LP now owns 2,632,918 shares of the financial services provider’s stock worth $53,238,000 after buying an additional 2,232,918 shares in the last quarter. Wellington Management Group LLP purchased a new position in Eagle Bancorp in the third quarter worth $12,314,000. Millennium Management LLC lifted its holdings in Eagle Bancorp by 135.6% in the third quarter. Millennium Management LLC now owns 444,631 shares of the financial services provider’s stock valued at $8,990,000 after acquiring an additional 255,932 shares during the period. Fourthstone LLC boosted its position in shares of Eagle Bancorp by 63.6% during the 2nd quarter. Fourthstone LLC now owns 644,930 shares of the financial services provider’s stock worth $12,563,000 after purchasing an additional 250,729 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake in shares of Eagle Bancorp by 112.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 357,404 shares of the financial services provider’s stock worth $6,962,000 after purchasing an additional 189,233 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.

About Eagle Bancorp

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.