Eagle Bancorp (NASDAQ:EGBN) Hits New 12-Month High on Analyst Upgrade

Eagle Bancorp, Inc. (NASDAQ:EGBN) reached a new 52-week high on Friday after Piper Sandler raised their price target on the stock from $29.00 to $30.00. Piper Sandler currently has a neutral rating on the stock. Eagle Bancorp traded as high as $29.29 and last traded at $29.1250, with a volume of 1246397 shares trading hands. The stock had previously closed at $28.42.

A number of other equities analysts have also recently issued reports on the company. Wall Street Zen upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Raymond James Financial began coverage on Eagle Bancorp in a research report on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 target price for the company. Zacks Research lowered Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $29.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EGBN. Royal Bank of Canada increased its holdings in shares of Eagle Bancorp by 13.3% in the first quarter. Royal Bank of Canada now owns 19,279 shares of the financial services provider’s stock worth $479,000 after buying an additional 2,263 shares during the period. Empowered Funds LLC boosted its holdings in Eagle Bancorp by 15.2% during the 1st quarter. Empowered Funds LLC now owns 113,806 shares of the financial services provider’s stock valued at $2,830,000 after acquiring an additional 15,006 shares during the period. Quantinno Capital Management LP grew its position in Eagle Bancorp by 15.2% during the 1st quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider’s stock worth $4,673,000 after acquiring an additional 24,842 shares during the last quarter. Caxton Associates LLP increased its stake in Eagle Bancorp by 8.5% in the 1st quarter. Caxton Associates LLP now owns 62,368 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 4,892 shares during the period. Finally, Inceptionr LLC increased its stake in Eagle Bancorp by 26.5% in the 1st quarter. Inceptionr LLC now owns 18,768 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 3,928 shares during the period. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Stock Up 2.5%

The stock has a market cap of $888.31 million, a P/E ratio of -7.68 and a beta of 0.97. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. The company has a 50-day simple moving average of $26.80 and a two-hundred day simple moving average of $25.19.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.28 by $0.20. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.03%. The company had revenue of $76.40 million for the quarter, compared to the consensus estimate of $77.37 million. On average, equities analysts forecast that Eagle Bancorp, Inc. will post 1.79 EPS for the current year.

Eagle Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Monday, May 4th. Eagle Bancorp’s dividend payout ratio (DPR) is -1.06%.

Eagle Bancorp Company Profile

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.