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

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) have been given an average rating of “Hold” by the five research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $31.00.

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

Eagle Bancorp Stock Performance

NASDAQ:EGBN opened at $28.22 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.87 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 $860.15 million, a price-to-earnings ratio of -22.40 and a beta of 0.98. The stock has a fifty day simple moving average of $28.04 and a 200 day simple moving average of $27.24.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). The company had revenue of $73.11 million during 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%. Sell-side analysts forecast that Eagle Bancorp will post 1.52 earnings per share for the current year.

Eagle Bancorp Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Stone Point Capital LLC purchased a new stake in Eagle Bancorp in the 2nd quarter worth about $21,660,548,000. Wellington Management Group LLP boosted its position in Eagle Bancorp by 5.9% during the 2nd quarter. Wellington Management Group LLP now owns 1,233,336 shares of the financial services provider’s stock worth $35,014,000 after acquiring an additional 68,314 shares during the period. Quantinno Capital Management LP grew its stake in Eagle Bancorp by 15.2% during 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 in the last quarter. Bank of New York Mellon Corp purchased a new position in Eagle Bancorp during the 2nd quarter valued at about $4,678,000. Finally, Principal Financial Group Inc. grew its stake in 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 valued at $3,347,000 after acquiring an additional 2,776 shares in the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Company Profile

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.