Eagle Bancorp, Inc. (NASDAQ:EGBN) Given Average Rating of “Hold” by Brokerages

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $26.00.

Several equities analysts have recently weighed in on the company. Raymond James Financial assumed coverage on Eagle Bancorp in a report on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 price objective for the company. Weiss Ratings restated a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, January 21st. Piper Sandler lifted their price target on Eagle Bancorp from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Wall Street Zen raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, UBS Group set a $25.00 price target on Eagle Bancorp in a research report on Tuesday, January 27th.

Eagle Bancorp Price Performance

NASDAQ EGBN opened at $24.47 on Friday. The company has a market capitalization of $746.34 million, a PE ratio of -6.46 and a beta of 0.96. The firm’s 50 day moving average is $25.65 and its 200-day moving average is $23.22. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a 12-month low of $15.03 and a 12-month high of $29.26.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.20. The company had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $77.37 million. Eagle Bancorp had a negative return on equity of 10.03% and a negative net margin of 18.65%. Equities research analysts anticipate that Eagle Bancorp will post 1.79 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, May 4th. Eagle Bancorp’s payout ratio is -1.06%.

Hedge Funds Weigh In On Eagle Bancorp

A number of institutional investors have recently bought and sold shares of EGBN. North Reef Capital Management LP increased its position in Eagle Bancorp by 558.2% during the third quarter. North Reef Capital Management LP now owns 2,632,918 shares of the financial services provider’s stock worth $53,238,000 after buying an additional 2,232,918 shares during the last quarter. Wellington Management Group LLP acquired a new position in Eagle Bancorp during the third quarter worth approximately $12,314,000. Millennium Management LLC increased its position in Eagle Bancorp by 135.6% during the third quarter. Millennium Management LLC now owns 444,631 shares of the financial services provider’s stock worth $8,990,000 after buying an additional 255,932 shares during the last quarter. AQR Capital Management LLC increased its position in Eagle Bancorp by 75.4% during the second quarter. AQR Capital Management LLC now owns 385,677 shares of the financial services provider’s stock worth $7,513,000 after buying an additional 165,747 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Eagle Bancorp during the fourth quarter worth approximately $3,399,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company’s product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.