Eagle Bancorp (NASDAQ:EGBN) Sets New 12-Month Low - What's Next?

Key Points

• Eagle Bancorp shares recently hit a new 52-week low at $16.58 during mid-day trading on Friday, with analysts noting a significant drop from a previous closing price of $21.49.
• Several analysts have revised their price targets for Eagle Bancorp, with estimates ranging from $20.00 to $24.00, while the company maintains an average rating of "Hold" and a price target of $21.75.
• The company reported a significant EPS miss of ($2.30) in its latest earnings release, falling short of the consensus estimate of $0.40, alongside a revenue of $74.19 million that slightly exceeded expectations.

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $16.58 and last traded at $16.93, with a volume of 2032033 shares trading hands. The stock had previously closed at $21.49.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EGBN. Keefe, Bruyette & Woods lowered their price target on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Piper Sandler reduced their price objective on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Jefferies Financial Group set a $20.00 price objective on Eagle Bancorp and gave the company a "hold" rating in a research note on Wednesday, May 21st. Janney Montgomery Scott upgraded Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price target for the company in a research note on Tuesday, June 10th. Finally, Wall Street Zen upgraded Eagle Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $21.75.

Eagle Bancorp Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.87 and a quick ratio of 0.87. The company has a 50 day moving average price of $18.89 and a 200 day moving average price of $20.99. The firm has a market cap of $514.28 million, a PE ratio of -16.60 and a beta of 1.05.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported ($2.30) earnings per share (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 return on equity of 2.52% and a negative net margin of 4.60%. Sell-side analysts expect that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 8th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Friday, August 8th. Eagle Bancorp's dividend payout ratio (DPR) is -64.71%.

Institutional Trading of Eagle Bancorp

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Eagle Bancorp by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,748,105 shares of the financial services provider's stock valued at $57,710,000 after acquiring an additional 58,682 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Eagle Bancorp by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider's stock worth $40,919,000 after buying an additional 63,702 shares during the last quarter. Fourthstone LLC boosted its stake in Eagle Bancorp by 382.7% in the 4th quarter. Fourthstone LLC now owns 1,276,653 shares of the financial services provider's stock worth $33,231,000 after buying an additional 1,012,182 shares during the last quarter. North Reef Capital Management LP boosted its stake in Eagle Bancorp by 251.9% in the 4th quarter. North Reef Capital Management LP now owns 967,593 shares of the financial services provider's stock worth $25,186,000 after buying an additional 692,593 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Eagle Bancorp by 6.7% in the 1st quarter. American Century Companies Inc. now owns 691,789 shares of the financial services provider's stock worth $14,528,000 after buying an additional 43,597 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company's stock.

About Eagle Bancorp

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.

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