Eagle Bancorp (NASDAQ:EGBN) Earns Strong-Buy Rating from Analysts at Raymond James Financial

Raymond James Financial began coverage on shares of Eagle Bancorp (NASDAQ:EGBN) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a strong-buy rating and a $32.00 target price on the financial services provider’s stock.

EGBN has been the subject of several other reports. Zacks Research raised Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. Piper Sandler raised their target price on Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, February 2nd. UBS Group set a $25.00 target price on Eagle Bancorp in a research note on Tuesday, January 27th. Wall Street Zen raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.00.

Eagle Bancorp Trading Up 0.1%

Shares of NASDAQ:EGBN opened at $27.34 on Tuesday. Eagle Bancorp has a 1 year low of $15.03 and a 1 year high of $29.26. The firm has a market capitalization of $830.12 million, a price-to-earnings ratio of -6.49 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86. The business’s 50 day moving average price is $25.64 and its 200-day moving average price is $22.37.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.37. Eagle Bancorp had a negative return on equity of 10.93% and a negative net margin of 20.19%.The firm had revenue of $80.50 million for the quarter, compared to analyst estimates of $67.81 million. On average, equities research analysts forecast that Eagle Bancorp will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, February 2nd. Eagle Bancorp’s payout ratio is currently -0.95%.

Hedge Funds Weigh In On Eagle Bancorp

Several institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new position in shares of Eagle Bancorp in the 4th quarter valued at about $535,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of Eagle Bancorp by 13.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,010,336 shares of the financial services provider’s stock valued at $21,642,000 after buying an additional 117,156 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Eagle Bancorp in the 4th quarter valued at about $233,000. Wellington Management Group LLP boosted its stake in shares of Eagle Bancorp by 77.7% in the 4th quarter. Wellington Management Group LLP now owns 1,082,382 shares of the financial services provider’s stock valued at $23,185,000 after buying an additional 473,361 shares during the period. Finally, Numerai GP LLC boosted its stake in shares of Eagle Bancorp by 18.5% in the 4th quarter. Numerai GP LLC now owns 148,067 shares of the financial services provider’s stock valued at $3,172,000 after buying an additional 23,157 shares during the period. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Company Profile

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.