Piper Sandler Boosts Eagle Bancorp (NASDAQ:EGBN) Price Target to $30.00

Eagle Bancorp (NASDAQ:EGBN) had its target price increased by equities researchers at Piper Sandler from $29.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective indicates a potential upside of 4.62% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Raymond James Financial assumed coverage on Eagle Bancorp in a research note on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Friday, June 5th. Zacks Research downgraded shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. One investment 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, the stock has a consensus rating of “Hold” and an average target price of $29.00.

Eagle Bancorp Stock Performance

EGBN stock traded up $0.25 during mid-day trading on Friday, reaching $28.67. 67,559 shares of the stock traded hands, compared to its average volume of 315,104. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a 52 week low of $15.03 and a 52 week high of $29.26. The business has a 50-day moving average of $26.80 and a two-hundred day moving average of $25.19. The firm has a market capitalization of $874.56 million, a PE ratio of -7.59 and a beta of 0.97.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $77.37 million. As a group, equities analysts predict that Eagle Bancorp will post 1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in Eagle Bancorp by 128.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider’s stock worth $30,000 after buying an additional 782 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Eagle Bancorp in the 1st quarter worth about $37,000. Tower Research Capital LLC TRC boosted its stake in Eagle Bancorp by 113.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 2,172 shares during the period. Raymond James Financial Inc. purchased a new position in Eagle Bancorp during the 2nd quarter valued at about $99,000. Finally, Fifth Third Bancorp increased its position in shares of Eagle Bancorp by 10,807.4% during the first quarter. Fifth Third Bancorp now owns 5,890 shares of the financial services provider’s stock valued at $146,000 after buying an additional 5,836 shares during the period. Institutional investors own 78.03% of the company’s stock.

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.