Eagle Bancorp (NASDAQ:EGBN) Price Target Lowered to $19.00 at Piper Sandler

Eagle Bancorp (NASDAQ:EGBN) had its target price cut by Piper Sandler from $22.00 to $19.00 in a research note published on Monday, Marketbeat.com reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research firms have also commented on EGBN. Wall Street Zen lowered shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.25.

Eagle Bancorp Trading Up 1.8%

NASDAQ EGBN opened at $17.74 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm has a market cap of $538.75 million, a PE ratio of -4.48 and a beta of 1.13. The company has a 50 day moving average price of $19.90 and a 200 day moving average price of $19.04. Eagle Bancorp has a 52 week low of $15.47 and a 52 week high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Monday, September 11th. The financial services provider reported $1.20 EPS for the quarter. The firm had revenue of $88.48 million during the quarter. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.07%. As a group, sell-side analysts forecast that Eagle Bancorp will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, November 3rd. Eagle Bancorp’s payout ratio is currently -1.01%.

Institutional Trading of Eagle Bancorp

Several large investors have recently made changes to their positions in the business. MAI Capital Management boosted its holdings in shares of Eagle Bancorp by 24.2% in the 2nd quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 671 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Eagle Bancorp by 102.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 753 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Eagle Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 780 shares during the last quarter. CWM LLC boosted its holdings in shares of Eagle Bancorp by 5.5% in the 1st quarter. CWM LLC now owns 15,287 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 802 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of Eagle Bancorp by 5.6% in the 1st quarter. Inspire Investing LLC now owns 16,339 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 860 shares during the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.