Eagle Bancorp, Inc.

DB:2ZI Stock Report

Market Cap: €842.7m

Eagle Bancorp Valuation

Is 2ZI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2ZI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2ZI (€26.4) is trading below our estimate of fair value (€78.23)

Significantly Below Fair Value: 2ZI is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2ZI?

Key metric: As 2ZI is an unprofitable bank we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 2ZI. This is calculated by dividing 2ZI's market cap by their current book value.
What is 2ZI's PB Ratio?
PB Ratio0.7x
BookUS$1.23b
Market CapUS$890.34m

Price to Book Ratio vs Peers

How does 2ZI's PB Ratio compare to its peers?

The above table shows the PB ratio for 2ZI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average0.7x
PCZ ProCredit Holding
0.5x10.7%€461.8m
UBK UmweltBank
0.9xn/a€227.1m
A139130 DGB Financial Group
0.2x24.7%₩1.5t
HFWA Heritage Financial
1x29.4%US$915.0m
2ZI Eagle Bancorp
0.7x103.9%€890.3m

Price-To-Book vs Peers: 2ZI is expensive based on its Price-To-Book Ratio (0.7x) compared to the peer average (0.7x).

Price to Book Ratio vs Industry

How does 2ZI's PB Ratio compare vs other companies in the European Banks Industry?

6 CompaniesPrice / BookEstimated GrowthMarket Cap
2ZI 0.7xIndustry Avg. 0.8xNo. of Companies38PB00.61.21.82.43+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: 2ZI is good value based on its Price-To-Book Ratio (0.7x) compared to the European Banks industry average (0.8x).

Price to Book Ratio vs Fair Ratio

What is 2ZI's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2ZI PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.7x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 2ZI's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2ZI forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€26.40
€24.04
-8.9%
8.3%€26.82€22.20n/a3
Nov ’25€18.20
€24.04
+32.1%
8.3%€26.82€22.20n/a3
Oct ’25n/a
€20.78
0%
4.3%€21.68€19.87n/a2
Aug ’25€19.70
€20.56
+4.3%
1.1%€20.79€20.33n/a2
Jul ’25€17.30
€19.51
+12.8%
5.7%€21.07€18.73n/a3
Jun ’25€15.40
€19.89
+29.1%
5.0%€20.81€18.50n/a3
May ’25€17.40
€21.14
+21.5%
11.0%€24.25€18.65n/a3
Apr ’25€21.20
€23.71
+11.8%
1.8%€24.02€23.09n/a3
Mar ’25€21.60
€24.49
+13.4%
3.8%€25.79€23.72n/a3
Feb ’25€22.60
€24.49
+8.4%
3.8%€25.79€23.72n/a3
Jan ’25€27.60
€22.90
-17.0%
8.5%€24.82€20.22n/a3
Dec ’24€21.40
€22.28
+4.1%
6.7%€24.33€20.79n/a3
Nov ’24€18.10
€22.28
+23.1%
6.7%€24.33€20.79€18.203
Oct ’24€19.90
€24.04
+20.8%
1.4%€24.51€23.80n/a3
Sep ’24€21.80
€26.68
+22.4%
11.2%€30.01€22.74€19.303
Aug ’24€25.00
€26.68
+6.7%
11.2%€30.01€22.74€19.703
Jul ’24€19.70
€25.04
+27.1%
14.7%€30.23€21.99€17.303
Jun ’24€18.30
€26.26
+43.5%
11.3%€29.88€22.64€15.403
May ’24€21.80
€26.26
+20.5%
11.3%€29.88€22.64€17.403
Apr ’24€29.80
€42.13
+41.4%
8.8%€45.20€36.90€21.203
Mar ’24€40.40
€45.13
+11.7%
1.7%€46.05€44.21€21.603
Feb ’24€43.00
€45.13
+5.0%
1.7%€46.05€44.21€22.603
Jan ’24€41.40
€45.99
+11.1%
3.6%€47.17€43.63€27.603
Dec ’23€44.60
€52.22
+17.1%
2.9%€53.74€50.70€21.402
Nov ’23€44.80
€52.22
+16.6%
2.9%€53.74€50.70€18.102

Analyst Forecast: Target price is lower than the current share price.

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