Eagle Bancorp, Inc. (NASDAQ:EGBN) Receives Average Rating of “Hold” from Analysts

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) have been assigned an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. One equities research 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 12-month target price among brokerages that have updated their coverage on the stock in the last year is $21.25.

A number of research firms have weighed in on EGBN. Piper Sandler cut their price objective on shares of Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, October 8th. Finally, Zacks Research raised Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd.

Eagle Bancorp Stock Down 1.7%

Shares of NASDAQ EGBN opened at $21.00 on Wednesday. The business has a 50-day moving average of $18.76 and a two-hundred day moving average of $19.11. The company has a market capitalization of $637.77 million, a price-to-earnings ratio of -5.30 and a beta of 1.06. Eagle Bancorp has a 1 year low of $15.03 and a 1 year high of $27.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.86 and a quick ratio of 0.84.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Monday, September 11th. The financial services provider reported $1.20 earnings per share for the quarter. The business had revenue of $88.48 million for the quarter. Eagle Bancorp had a negative return on equity of 10.07% and a negative net margin of 18.65%. On average, analysts forecast 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 paid a $0.01 dividend. The ex-dividend date was Monday, November 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Eagle Bancorp’s payout ratio is currently -1.01%.

Insider Buying and Selling

In other Eagle Bancorp news, CFO Eric R. Newell acquired 3,050 shares of the company’s stock in a transaction on Friday, November 14th. The shares were bought at an average cost of $16.55 per share, for a total transaction of $50,477.50. Following the completion of the purchase, the chief financial officer owned 33,615 shares in the company, valued at $556,328.25. This trade represents a 9.98% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Louis P. Jr. Mathews bought 1,500 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were acquired at an average price of $17.20 per share, with a total value of $25,800.00. Following the purchase, the director directly owned 10,157 shares of the company’s stock, valued at approximately $174,700.40. This trade represents a 17.33% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 6,050 shares of company stock worth $101,538. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Eagle Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Caxton Associates LLP lifted its position in Eagle Bancorp by 69.8% during the 3rd quarter. Caxton Associates LLP now owns 67,285 shares of the financial services provider’s stock worth $1,361,000 after acquiring an additional 27,655 shares during the period. Verition Fund Management LLC lifted its holdings in shares of Eagle Bancorp by 50.3% during the third quarter. Verition Fund Management LLC now owns 81,057 shares of the financial services provider’s stock worth $1,639,000 after purchasing an additional 27,135 shares during the period. North Reef Capital Management LP grew its position in Eagle Bancorp by 558.2% in the 3rd 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 buying an additional 2,232,918 shares during the last quarter. Mariner LLC increased its stake in Eagle Bancorp by 216.3% in the 3rd quarter. Mariner LLC now owns 53,360 shares of the financial services provider’s stock valued at $1,079,000 after buying an additional 36,489 shares during the period. Finally, Millennium Management LLC raised 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 worth $8,990,000 after buying an additional 255,932 shares during the last quarter. 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.