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

Zacks Research upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a strong sell rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other equities research analysts have also weighed in on EGBN. Weiss Ratings restated a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Friday, June 5th. Piper Sandler lifted their price target on shares of Eagle Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.00.

Eagle Bancorp Stock Performance

Eagle Bancorp stock opened at $27.57 on Thursday. Eagle Bancorp has a 12-month low of $15.03 and a 12-month high of $29.29. 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 $840.44 million, a price-to-earnings ratio of -21.88 and a beta of 0.96. The firm’s fifty day moving average price is $27.82 and its 200 day moving average price is $26.70.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). The firm had revenue of $73.11 million during the quarter, compared to analysts’ expectations of $74.41 million. Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. On average, research analysts forecast that Eagle Bancorp will post 1.52 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, August 6th. Eagle Bancorp’s dividend payout ratio (DPR) is currently -3.17%.

Institutional Investors Weigh In On Eagle Bancorp

A number of institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in Eagle Bancorp by 128.6% during the fourth 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. Cassaday & Co Wealth Management LLC acquired a new position in Eagle Bancorp in the first quarter worth $37,000. Public Employees Retirement System of Ohio bought a new stake in Eagle Bancorp during the second quarter valued at $39,000. Tower Research Capital LLC TRC increased its stake 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 valued at $80,000 after purchasing an additional 2,172 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Eagle Bancorp during the second quarter worth $99,000. 78.03% of the stock is currently owned by institutional investors.

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.