Eagle Bancorp (NASDAQ:EGBN) Given New $18.00 Price Target at Piper Sandler

Key Points

• Analysts at Piper Sandler have lowered their price target for Eagle Bancorp (NASDAQ:EGBN) from $21.00 to $18.00, maintaining a "neutral" rating.
• The financial services provider recently reported a significant loss of ($2.30) earnings per share, missing consensus estimates by $2.70.
• Currently, 78.03% of Eagle Bancorp's stock is owned by hedge funds and institutional investors, indicating strong institutional interest in the company.

Eagle Bancorp (NASDAQ:EGBN - Free Report) had its target price lowered by Piper Sandler from $21.00 to $18.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider's stock.

Several other analysts also recently commented on EGBN. Wall Street Zen downgraded Eagle Bancorp from a "hold" rating to a "strong sell" rating in a research note on Saturday, July 26th. Jefferies Financial Group set a $20.00 price objective on shares of Eagle Bancorp and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Janney Montgomery Scott raised Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective on the stock in a report on Tuesday, June 10th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Eagle Bancorp has a consensus rating of "Hold" and an average target price of $21.00.

Eagle Bancorp Stock Performance

Shares of EGBN stock traded up $0.38 during mid-day trading on Wednesday, hitting $16.66. 361,980 shares of the stock were exchanged, compared to its average volume of 595,887. Eagle Bancorp has a 12-month low of $15.47 and a 12-month high of $30.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $505.96 million, a price-to-earnings ratio of -16.33 and a beta of 1.07. The stock's fifty day simple moving average is $18.57 and its two-hundred day simple moving average is $20.31.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported ($2.30) EPS for the quarter, missing the consensus estimate of $0.40 by ($2.70). The business had revenue of $74.19 million during the quarter, compared to analysts' expectations of $73.03 million. Eagle Bancorp had a negative net margin of 4.60% and a negative return on equity of 2.54%. On average, analysts forecast that Eagle Bancorp will post 2.31 EPS for the current year.

Eagle Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 8th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.66 annualized dividend and a yield of 4.0%. Eagle Bancorp's dividend payout ratio (DPR) is presently -64.71%.

Institutional Trading of Eagle Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in EGBN. Atlantic Union Bankshares Corp acquired a new stake in shares of Eagle Bancorp during the 2nd quarter worth $70,000. Russell Investments Group Ltd. increased its stake in Eagle Bancorp by 42.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock worth $82,000 after buying an additional 933 shares during the period. Huntington National Bank lifted its stake in shares of Eagle Bancorp by 1,307.8% in the second quarter. Huntington National Bank now owns 5,406 shares of the financial services provider's stock worth $105,000 after acquiring an additional 5,022 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Eagle Bancorp by 13.2% during the first quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider's stock worth $180,000 after buying an additional 1,000 shares in the last quarter. Finally, Savant Capital LLC bought a new stake in shares of Eagle Bancorp in the 2nd quarter worth about $200,000. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.