Piper Sandler Cuts Eagle Bancorp (NASDAQ:EGBN) Price Target to $19.00

Eagle Bancorp (NASDAQ:EGBN) had its price target trimmed by Piper Sandler from $22.00 to $19.00 in a research report sent to investors on Monday morning, Marketbeat reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Several other research firms have also recently commented on EGBN. Wall Street Zen cut Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.25.

Eagle Bancorp Stock Performance

Shares of EGBN stock opened at $16.66 on Monday. Eagle Bancorp has a 12-month low of $15.47 and a 12-month high of $30.94. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.86 and a quick ratio of 0.84. The firm has a market capitalization of $505.96 million, a price-to-earnings ratio of -4.21 and a beta of 1.13. The business has a 50 day simple moving average of $19.85 and a 200 day simple moving average of $19.01.

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

Eagle Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Monday, November 3rd will be paid 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 is Monday, November 3rd. Eagle Bancorp’s dividend payout ratio (DPR) is presently -16.67%.

Institutional Investors Weigh In On Eagle Bancorp

Several large investors have recently modified their holdings of EGBN. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Eagle Bancorp by 72.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 19,640 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 8,277 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Eagle Bancorp by 24.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 2,000 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Eagle Bancorp by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 150,357 shares of the financial services provider’s stock worth $3,157,000 after acquiring an additional 3,941 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Eagle Bancorp by 25.7% during the 1st quarter. Cerity Partners LLC now owns 13,818 shares of the financial services provider’s stock worth $290,000 after acquiring an additional 2,823 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Eagle Bancorp by 13.2% during the 1st quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 1,000 shares in the last quarter. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.