Analysts Set Eagle Bancorp, Inc. (NASDAQ:EGBN) Target Price at $23.60

Eagle Bancorp, Inc. (NASDAQ:EGBN) has received an average rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.60.

Several brokerages have commented on EGBN. UBS Group set a $25.00 price objective on Eagle Bancorp in a research report on Tuesday, January 27th. Zacks Research raised shares of Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Piper Sandler upped their price objective on shares of Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, January 21st.

Eagle Bancorp Stock Up 1.7%

EGBN stock opened at $25.83 on Monday. Eagle Bancorp has a fifty-two week low of $15.03 and a fifty-two week high of $29.26. The company has a market capitalization of $784.46 million, a price-to-earnings ratio of -6.14 and a beta of 1.03. The business’s 50 day moving average price is $24.60 and its two-hundred day moving average price is $21.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.87.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.37. The company had revenue of $80.50 million for the quarter, compared to analyst estimates of $67.81 million. Eagle Bancorp had a negative return on equity of 10.91% and a negative net margin of 20.19%. As a group, analysts forecast that Eagle Bancorp will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, February 2nd. Eagle Bancorp’s dividend payout ratio (DPR) is -0.95%.

Institutional Investors Weigh In On Eagle Bancorp

Several hedge funds have recently added to or reduced their stakes in EGBN. North Reef Capital Management LP increased its holdings in shares of Eagle Bancorp by 558.2% during the third quarter. North Reef Capital Management LP now owns 2,632,918 shares of the financial services provider’s stock valued at $53,238,000 after acquiring an additional 2,232,918 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Eagle Bancorp during the 3rd quarter valued at about $12,314,000. Millennium Management LLC grew its position in Eagle Bancorp by 135.6% during the 3rd quarter. Millennium Management LLC now owns 444,631 shares of the financial services provider’s stock valued at $8,990,000 after purchasing an additional 255,932 shares during the last quarter. Fourthstone LLC increased its stake in Eagle Bancorp by 63.6% during the 2nd quarter. Fourthstone LLC now owns 644,930 shares of the financial services provider’s stock valued at $12,563,000 after purchasing an additional 250,729 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in Eagle Bancorp by 112.5% in the second quarter. Jupiter Asset Management Ltd. now owns 357,404 shares of the financial services provider’s stock worth $6,962,000 after buying an additional 189,233 shares during the last quarter. 78.03% of the stock is owned by institutional investors.

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.