Eagle Bancorp (NASDAQ:EGBN) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Eagle Bancorp (NASDAQ:EGBN) in a research report sent to investors on Monday, MarketBeat Ratings reports. The firm issued a neutral rating and a $27.00 price objective on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Eagle Bancorp Stock Performance

NASDAQ:EGBN opened at $23.15 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average price of $22.02 and a 200 day moving average price of $20.47. The firm has a market capitalization of $698.90 million, a PE ratio of 9.22 and a beta of 1.09. Eagle Bancorp has a 12-month low of $15.99 and a 12-month high of $31.97.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.34. The business had revenue of $175.06 million during the quarter, compared to analysts’ expectations of $80.90 million. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. During the same period in the prior year, the firm posted $0.94 EPS. Research analysts anticipate that Eagle Bancorp will post 1.46 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 21st will be given a $0.165 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.66 annualized dividend and a yield of 2.85%. Eagle Bancorp’s payout ratio is 26.29%.

Hedge Funds Weigh In On Eagle Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System raised its holdings in shares of Eagle Bancorp by 434.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,699 shares of the financial services provider’s stock valued at $1,097,000 after buying an additional 37,957 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Eagle Bancorp in the first quarter worth about $591,000. Vanguard Group Inc. lifted its position in shares of Eagle Bancorp by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock worth $101,351,000 after purchasing an additional 126,085 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Eagle Bancorp by 76.9% during the first quarter. Epoch Investment Partners Inc. now owns 457,881 shares of the financial services provider’s stock valued at $10,756,000 after purchasing an additional 199,057 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Eagle Bancorp by 39.9% in the second quarter. Thrivent Financial for Lutherans now owns 115,739 shares of the financial services provider’s stock valued at $2,188,000 after purchasing an additional 33,021 shares in the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.

About Eagle Bancorp

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.