Eagle Bancorp (NASDAQ:EGBN) Upgraded by StockNews.com to Hold

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday.

A number of other research firms have also weighed in on EGBN. Piper Sandler started coverage on Eagle Bancorp in a report on Monday. They set a "neutral" rating and a $27.00 target price for the company. Keefe, Bruyette & Woods raised their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the company a "market perform" rating in a research report on Monday, July 29th.

Eagle Bancorp Stock Up 15.5 %

Shares of Eagle Bancorp stock traded up $3.60 during trading on Thursday, hitting $26.88. 787,155 shares of the stock traded hands, compared to its average volume of 322,435. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.42. The stock's fifty day simple moving average is $22.31 and its 200 day simple moving average is $20.54. The firm has a market cap of $811.51 million, a P/E ratio of 10.71 and a beta of 1.09. Eagle Bancorp has a 52-week low of $15.99 and a 52-week high of $31.97.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.33 by $0.34. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. The business had revenue of $175.06 million during the quarter, compared to analyst estimates of $80.90 million. During the same quarter in the previous year, the business posted $0.94 EPS. On average, equities analysts predict that Eagle Bancorp will post 1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eagle Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of Eagle Bancorp during the 1st quarter valued at $26,000. Point72 Asset Management L.P. purchased a new stake in Eagle Bancorp in the second quarter valued at about $35,000. Carmichael Hill & Associates Inc. boosted its holdings in Eagle Bancorp by 36.1% in the second quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider's stock worth $51,000 after acquiring an additional 721 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Eagle Bancorp by 102.0% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider's stock worth $55,000 after acquiring an additional 1,234 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Eagle Bancorp during the second quarter valued at about $89,000. 78.03% of the stock is owned by hedge funds and other 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.

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