Eagle Bancorp (NASDAQ:EGBN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a sell rating to a hold rating in a research report report published on Thursday.

Several other equities research analysts have also issued reports on EGBN. Piper Sandler assumed coverage on Eagle Bancorp in a research note on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective for the company. Keefe, Bruyette & Woods raised their price target on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

Eagle Bancorp Stock Performance

EGBN stock opened at $26.17 on Thursday. Eagle Bancorp has a 52 week low of $15.99 and a 52 week high of $31.97. The company has a fifty day simple moving average of $22.43 and a two-hundred day simple moving average of $20.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.42.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.27. The firm had revenue of $180.76 million for the quarter, compared to analysts’ expectations of $80.31 million. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. During the same period in the prior year, the company earned $0.91 EPS. Research analysts predict that Eagle Bancorp will post 1.56 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.165 per share. The ex-dividend date is Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.52%. Eagle Bancorp’s dividend payout ratio is -54.55%.

Institutional Investors Weigh In On Eagle Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of EGBN. Riverview Trust Co purchased a new stake in Eagle Bancorp in the first quarter worth $26,000. Point72 Asset Management L.P. purchased a new position in Eagle Bancorp in the 2nd quarter worth about $35,000. Carmichael Hill & Associates Inc. boosted its position in Eagle Bancorp by 36.1% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock valued at $51,000 after buying an additional 721 shares during the period. GAMMA Investing LLC grew its stake in Eagle Bancorp by 102.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Eagle Bancorp by 49.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 846 shares during the period. 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.