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

Eagle Bancorp, Inc. (NASDAQ:EGBN) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $21.25.

EGBN has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, October 8th. Piper Sandler lowered their target price on Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Finally, Zacks Research upgraded Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd.

Eagle Bancorp Stock Performance

Eagle Bancorp stock opened at $21.98 on Friday. The stock has a 50-day simple moving average of $19.58 and a 200 day simple moving average of $19.44. The stock has a market capitalization of $667.53 million, a price-to-earnings ratio of -5.55 and a beta of 1.02. The company has a quick ratio of 0.84, 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 $27.07.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Monday, September 11th. The financial services provider reported $1.20 EPS for the quarter. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.07%. The firm had revenue of $88.48 million for the quarter. On average, research analysts anticipate that Eagle Bancorp will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were issued 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 was Monday, November 3rd. Eagle Bancorp’s payout ratio is currently -1.01%.

Insider Transactions at Eagle Bancorp

In other Eagle Bancorp news, Director Louis P. Jr. Mathews bought 1,500 shares of the business’s stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $17.20 per share, for a total transaction of $25,800.00. Following the transaction, the director owned 10,157 shares in the company, valued at approximately $174,700.40. This trade represents a 17.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric R. Newell bought 3,050 shares of Eagle Bancorp stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $16.55 per share, for a total transaction of $50,477.50. Following the purchase, the chief financial officer directly owned 33,615 shares in the company, valued at approximately $556,328.25. The trade was a 9.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 6,050 shares of company stock worth $101,538. Corporate insiders own 3.39% of the company’s stock.

Institutional Trading of Eagle Bancorp

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its position in shares of Eagle Bancorp by 8.9% in the 1st quarter. AQR Capital Management LLC now owns 219,930 shares of the financial services provider’s stock worth $4,619,000 after purchasing an additional 17,943 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Eagle Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider’s stock worth $369,000 after buying an additional 780 shares during the last quarter. Millennium Management LLC grew its position in shares of Eagle Bancorp by 164.6% during the 1st quarter. Millennium Management LLC now owns 314,370 shares of the financial services provider’s stock worth $6,602,000 after buying an additional 195,567 shares during the period. Empowered Funds LLC increased its stake in shares of Eagle Bancorp by 65.0% in the 1st quarter. Empowered Funds LLC now owns 91,087 shares of the financial services provider’s stock valued at $1,913,000 after acquiring an additional 35,898 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Eagle Bancorp in the 1st quarter valued at about $412,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

About Eagle Bancorp

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.