** Regional lender Eagle Bancorp's EGBN.O shares slide 10.9% to $18.89
** EGBN late on Wednesday reported Q1 profit well below Wall Street expectations, after beating estimates for the past three quarters
** Profit took a hit as the bank set aside more funds for bad loans due to weakness in its office portfolio
** Valuation risk in our office portfolio remains a concern and was the primary driver of the provision for credit losses, Chief Financial Officer Eric Newell says
** Piper Sandler says while the results didn't show the improvement it was hoping for, it thinks investors concerns around credit are reflected in the stock
** All three brokerages covering the stock rate it "hold"; median PT $25 - data compiled by LSEG
** As of last close, EGBN shares down 18.6% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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