Eagle Bancorp, Inc. (NASDAQ:EGBN) Stock Has Consensus Price Target of $29.00 According to Brokerages

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) have received a consensus rating of “Hold” from the five analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $29.00.

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 27th. Hovde Group initiated coverage on Eagle Bancorp in a report on Wednesday. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eagle Bancorp in a report on Wednesday, September 2nd. Finally, Piper Sandler boosted their target price on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, June 26th.

Eagle Bancorp Stock Down 0.3%

Shares of NASDAQ:EGBN opened at $28.25 on Wednesday. The company has a market capitalization of $861.02 million, a PE ratio of -22.42 and a beta of 0.98. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $28.01 and a 200-day simple moving average of $27.16. Eagle Bancorp has a twelve month low of $15.03 and a twelve month high of $29.29.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.11). Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. The firm had revenue of $73.11 million for the quarter, compared to analysts’ expectations of $74.41 million. On average, equities analysts predict that Eagle Bancorp will post 1.52 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, August 6th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. Eagle Bancorp’s payout ratio is presently -3.17%.

Institutional Investors Weigh In On Eagle Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in EGBN. Integrated Wealth Concepts LLC purchased a new stake in shares of Eagle Bancorp during the second quarter valued at about $62,000. Corient Private Wealth LP increased its stake in Eagle Bancorp by 61.2% during the 2nd quarter. Corient Private Wealth LP now owns 28,104 shares of the financial services provider’s stock worth $798,000 after buying an additional 10,669 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Eagle Bancorp by 15.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 49,033 shares of the financial services provider’s stock worth $1,392,000 after buying an additional 6,487 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Eagle Bancorp by 247.7% in the second quarter. Hsbc Holdings PLC now owns 42,520 shares of the financial services provider’s stock worth $1,204,000 after acquiring an additional 30,292 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of 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 worth $35,014,000 after purchasing an additional 68,314 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank serving businesses, professionals, nonprofit organizations and individuals. The company is headquartered in Bethesda, Maryland, and its primary market includes the Washington, DC, metropolitan area, including suburban Maryland and Northern Virginia.

EagleBank provides commercial banking products and services such as business and commercial real estate lending, construction and acquisition financing, commercial and industrial loans, residential and consumer lending, deposit accounts, cash-management services and online banking.