Eagle Bancorp, Inc. (NASDAQ:EGBN) Stock Has Consensus Price Target of $29.00

Eagle Bancorp, Inc. (NASDAQ:EGBN) has received a consensus rating of “Hold” from the five research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $31.00.

EGBN has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. Hovde Group started coverage on shares of Eagle Bancorp in a research report on Wednesday, October 7th. They set an “outperform” rating and a $37.00 price target for the company. Piper Sandler boosted their target price on Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Finally, Zacks Research upgraded Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th.

Eagle Bancorp Stock Down 0.7%

Eagle Bancorp stock opened at $28.19 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a 1-year low of $15.03 and a 1-year high of $29.29. The firm has a market capitalization of $859.23 million, a price-to-earnings ratio of -22.37 and a beta of 0.98. The firm’s fifty day moving average price is $28.04 and its two-hundred day moving average price is $27.29.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). The firm had revenue of $73.11 million for the quarter, compared to analysts’ expectations of $74.41 million. Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%. On average, equities research analysts predict that Eagle Bancorp will post 1.52 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Thursday, August 6th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, August 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. Eagle Bancorp’s payout ratio is currently -3.17%.

Hedge Funds Weigh In On Eagle Bancorp

Large investors have recently made changes to their positions in the business. Stone Point Capital LLC purchased a new stake in shares of Eagle Bancorp during the second quarter valued at $21,660,548,000. Wellington Management Group LLP lifted its position in shares of Eagle Bancorp by 5.9% in the second quarter. Wellington Management Group LLP now owns 1,233,336 shares of the financial services provider’s stock valued at $35,014,000 after acquiring an additional 68,314 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Eagle Bancorp during the 2nd quarter valued at approximately $4,678,000. Quantinno Capital Management LP increased its holdings in Eagle Bancorp by 15.2% in the 1st quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider’s stock valued at $4,673,000 after acquiring an additional 24,842 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Eagle Bancorp by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 134,598 shares of the financial services provider’s stock worth $3,347,000 after acquiring an additional 2,776 shares in the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

About Eagle Bancorp

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank serving businesses, professionals, nonprofit organizations and individuals. The company is headquartered in Bethesda, Maryland, and its primary market includes the Washington, DC, metropolitan area, including suburban Maryland and Northern Virginia.

EagleBank provides commercial banking products and services such as business and commercial real estate lending, construction and acquisition financing, commercial and industrial loans, residential and consumer lending, deposit accounts, cash-management services and online banking.