Eagle Bancorp (NASDAQ:EGBN) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Eagle Bancorp (NASDAQ:EGBN) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Eagle Bancorp Stock Performance

Shares of EGBN stock opened at $23.16 on Wednesday. Eagle Bancorp has a 12 month low of $16.72 and a 12 month high of $34.87. The stock has a market capitalization of $693.18 million, a P/E ratio of 7.02 and a beta of 1.02. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The firm’s 50 day moving average is $24.03 and its 200 day moving average is $24.11.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.09). The company had revenue of $75.89 million for the quarter, compared to the consensus estimate of $75.67 million. Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. On average, sell-side analysts anticipate that Eagle Bancorp will post 2.32 earnings per share for the current year.

Insider Buying and Selling

In other Eagle Bancorp news, EVP Lindsey S. Rheaume sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $22.98, for a total value of $505,560.00. Following the sale, the executive vice president now owns 9,075 shares of the company’s stock, valued at approximately $208,543.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.53% of the stock is owned by company insiders.

Institutional Trading of Eagle Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Belpointe Asset Management LLC raised its stake in shares of Eagle Bancorp by 320.5% during the first quarter. Belpointe Asset Management LLC now owns 820 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 625 shares in the last quarter. Versant Capital Management Inc lifted its stake in Eagle Bancorp by 1,910.2% in the fourth quarter. Versant Capital Management Inc now owns 985 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 936 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Eagle Bancorp during the third quarter valued at about $26,000. Gladius Capital Management LP grew its stake in shares of Eagle Bancorp by 762.4% during the fourth quarter. Gladius Capital Management LP now owns 1,466 shares of the financial services provider’s stock valued at $44,000 after buying an additional 1,296 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Eagle Bancorp in the third quarter worth about $32,000. Hedge funds and other institutional investors own 78.03% of the company’s stock.

About Eagle Bancorp

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.