Eagle Bancorp (NASDAQ:EGBN) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a hold rating to a sell rating in a research report released on Saturday.

Other research analysts also recently issued research reports about the stock. Piper Sandler decreased their target price on shares of Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Jefferies Financial Group set a $20.00 price target on shares of Eagle Bancorp and gave the company a “hold” rating in a research note on Wednesday, May 21st. Janney Montgomery Scott upgraded shares of Eagle Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Tuesday, June 10th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Eagle Bancorp has a consensus rating of “Hold” and a consensus price target of $21.75.

Eagle Bancorp Stock Performance

Shares of EGBN opened at $17.23 on Friday. The stock has a market capitalization of $523.40 million, a price-to-earnings ratio of -10.97 and a beta of 1.03. Eagle Bancorp has a 12 month low of $15.99 and a 12 month high of $30.94. The firm has a fifty day simple moving average of $18.53 and a 200 day simple moving average of $22.42. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.40). The business had revenue of $73.86 million during the quarter, compared to the consensus estimate of $71.93 million. Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. Research analysts forecast that Eagle Bancorp will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Monday, May 5th. Eagle Bancorp’s dividend payout ratio is currently -44.00%.

Institutional Investors Weigh In On Eagle Bancorp

Hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its stake in shares of Eagle Bancorp by 353.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 775 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Eagle Bancorp in the 4th quarter valued at approximately $59,000. Russell Investments Group Ltd. boosted its stake in shares of Eagle Bancorp by 42.0% in the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 933 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Eagle Bancorp by 13.2% in the 1st quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Eagle Bancorp in the 1st quarter valued at approximately $205,000. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bancorp Company Profile

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.