Eagle Bancorp (NASDAQ:EGBN) Sets New 12-Month High - Still a Buy?

Key Points

• Eagle Bancorp shares reached a new 52-week high of $34.21, trading about 2.6% higher, while the stock’s 50-day and 200-day moving averages stood at $28.74 and $27.07, respectively.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $31 target price; Hovde Group initiated coverage with an “Outperform” rating and a $37 target.
• The company reported quarterly earnings of $0.79 per share, well above the $0.34 estimate, but revenue slightly missed expectations. Eagle Bancorp also declared a $0.01 quarterly dividend, equivalent to a 0.1% yield.

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday. The company traded as high as $34.21 and last traded at $34.08, with a volume of 33,955 shares trading hands. The stock had previously closed at $33.28.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EGBN shares. Hovde Group began coverage on Eagle Bancorp in a report on Wednesday, October 7th. They issued an "outperform" rating and a $37.00 target price on the stock. Zacks Research upgraded Eagle Bancorp from a "strong sell" rating to a "hold" rating in a report on Thursday, August 27th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $31.00.

Eagle Bancorp Stock Up 2.6%

The company has a market cap of $1.04 billion, a P/E ratio of 19.49 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.87. The company's 50-day moving average is $28.74 and its two-hundred day moving average is $27.07.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its earnings results on Wednesday, October 21st. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.45. The business had revenue of $70.87 million during the quarter, compared to analyst estimates of $71.78 million. Eagle Bancorp had a return on equity of 4.66% and a net margin of 9.30%. As a group, equities analysts predict that Eagle Bancorp, Inc. will post 1.84 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Friday, November 6th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, November 6th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. Eagle Bancorp's dividend payout ratio is 2.29%.

Institutional Investors Weigh In On Eagle Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. Stone Point Capital LLC purchased a new position in shares of Eagle Bancorp in the 2nd quarter worth $21,660,548,000. Wellington Management Group LLP increased its position in Eagle Bancorp by 5.9% during the second quarter. Wellington Management Group LLP now owns 1,233,336 shares of the financial services provider's stock valued at $35,014,000 after acquiring an additional 68,314 shares during the last quarter. Quantinno Capital Management LP increased its position in Eagle Bancorp by 15.2% during the first 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 during the last quarter. Bank of New York Mellon Corp bought a new position in Eagle Bancorp in the second quarter valued at about $4,678,000. Finally, Principal Financial Group Inc. lifted its holdings in Eagle Bancorp by 2.1% in the first 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 during the period. 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 banking institution headquartered in Bethesda, Maryland. Founded in 1998, EagleBank serves businesses, professional practices, nonprofit organizations and individual customers primarily in the Washington, DC, metropolitan region, including communities in Maryland and Northern Virginia.

EagleBank provides commercial and retail banking services, including business and personal checking and savings accounts, commercial real estate lending, construction financing, commercial and industrial loans, residential mortgages and other credit products.

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