Eagle Bancorp (NASDAQ:EGBN) Research Coverage Started at Hovde Group

Hovde Group initiated coverage on shares of Eagle Bancorp (NASDAQ:EGBN) in a report published on Wednesday, MarketBeat reports. The firm issued an outperform rating and a $37.00 price target on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on EGBN. Weiss Ratings restated a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. Piper Sandler increased their price target on shares of Eagle Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Finally, Zacks Research raised Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Eagle Bancorp Trading Down 0.3%

Shares of Eagle Bancorp stock opened at $28.22 on Wednesday. The company has a fifty day simple moving average of $28.04 and a 200-day simple moving average of $27.22. Eagle Bancorp has a 12-month low of $15.03 and a 12-month high of $29.29. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The stock has a market cap of $860.15 million, a price-to-earnings ratio of -22.40 and a beta of 0.98.

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

Eagle Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date was Thursday, August 6th. Eagle Bancorp’s dividend payout ratio (DPR) is -3.17%.

Institutional Trading of Eagle Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in Eagle Bancorp during the second quarter worth $39,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Eagle Bancorp in the first quarter valued at $37,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Eagle Bancorp during the second quarter valued at $62,000. Versant Capital Management Inc boosted its stake in shares of Eagle Bancorp by 16.2% during the second quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 493 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Eagle Bancorp by 10,807.4% during the 1st quarter. Fifth Third Bancorp now owns 5,890 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 5,836 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

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.