Piper Sandler Lowers Eagle Bancorp (NASDAQ:EGBN) Price Target to $27.50

Eagle Bancorp (NASDAQ:EGBN) had its target price trimmed by Piper Sandler from $31.00 to $27.50 in a research report report published on Friday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods raised their target price on shares of Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

Eagle Bancorp Stock Performance

Shares of NASDAQ EGBN opened at $25.46 on Friday. The firm’s fifty day moving average is $27.05 and its two-hundred day moving average is $24.33. Eagle Bancorp has a 52-week low of $15.99 and a 52-week high of $30.94. The company has a market cap of $768.89 million, a P/E ratio of -16.22 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.69% and a negative net margin of 6.65%. As a group, analysts anticipate that Eagle Bancorp will post 2.42 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, February 7th. Eagle Bancorp’s dividend payout ratio is currently -42.04%.

Hedge Funds Weigh In On Eagle Bancorp

A number of large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Eagle Bancorp by 13.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,440 shares of the financial services provider’s stock valued at $26,637,000 after acquiring an additional 169,621 shares during the period. Geode Capital Management LLC boosted its stake in shares of Eagle Bancorp by 3.7% during the third quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock valued at $16,254,000 after purchasing an additional 25,578 shares during the period. AQR Capital Management LLC grew its holdings in shares of Eagle Bancorp by 53.2% in the second quarter. AQR Capital Management LLC now owns 539,186 shares of the financial services provider’s stock worth $10,191,000 after purchasing an additional 187,249 shares during the last quarter. Fourthstone LLC purchased a new position in Eagle Bancorp in the 3rd quarter worth about $5,972,000. Finally, JPMorgan Chase & Co. lifted its holdings in Eagle Bancorp by 44.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 158,254 shares of the financial services provider’s stock valued at $3,573,000 after buying an additional 48,749 shares in the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.