Eagle Bancorp (NASDAQ:EGBN) Rating Increased to Hold at StockNews.com

Eagle Bancorp (NASDAQ:EGBN) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

A number of other analysts also recently issued reports on EGBN. Piper Sandler began coverage on Eagle Bancorp in a research report on Monday, October 21st. They issued a “neutral” rating and a $27.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

Eagle Bancorp Price Performance

Shares of EGBN opened at $26.17 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.42. Eagle Bancorp has a twelve month low of $15.99 and a twelve month high of $31.97. The stock has a market capitalization of $790.07 million, a P/E ratio of 10.43 and a beta of 1.09. The company has a 50 day moving average of $22.43 and a 200-day moving average of $20.56.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.27. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. The business had revenue of $180.76 million during the quarter, compared to the consensus estimate of $80.31 million. During the same quarter last year, the firm earned $0.91 earnings per share. As a group, equities research analysts forecast that Eagle Bancorp will post 1.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Eagle Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in Eagle Bancorp by 49.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 846 shares during the period. Inspire Investing LLC bought a new position in shares of Eagle Bancorp during the 3rd quarter worth approximately $416,000. CWM LLC increased its holdings in shares of Eagle Bancorp by 46.7% during the 3rd quarter. CWM LLC now owns 14,491 shares of the financial services provider’s stock worth $327,000 after acquiring an additional 4,615 shares during the last quarter. Divergent Planning LLC acquired a new position in shares of Eagle Bancorp during the 3rd quarter worth approximately $218,000. Finally, GAMMA Investing LLC raised its stake in Eagle Bancorp by 102.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,234 shares during the period. 78.03% of the stock is owned by institutional investors.

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.