Piper Sandler Begins Coverage on Eagle Bancorp (NASDAQ:EGBN)

Investment analysts at Piper Sandler started coverage on shares of Eagle Bancorp (NASDAQ:EGBN) in a report released on Monday, StockNewsAPI reports. The brokerage set a “neutral” rating and a $27.00 price target on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 10.43% from the company’s previous close.

Separately, Keefe, Bruyette & Woods raised their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

Eagle Bancorp Trading Down 1.5 %

NASDAQ EGBN opened at $24.45 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. Eagle Bancorp has a twelve month low of $15.99 and a twelve month high of $31.97. The company has a market cap of $738.15 million, a price-to-earnings ratio of 9.74 and a beta of 1.09. The business’s fifty day moving average is $21.93 and its 200 day moving average is $20.46.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.34. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. The company had revenue of $175.06 million for the quarter, compared to the consensus estimate of $80.90 million. During the same quarter last year, the business posted $0.94 EPS. As a group, sell-side analysts expect that Eagle Bancorp will post 1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EGBN. Vanguard Group Inc. raised its position in shares of Eagle Bancorp by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock worth $101,351,000 after acquiring an additional 126,085 shares in the last quarter. Riverview Trust Co bought a new position in shares of Eagle Bancorp in the 1st quarter worth about $26,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Eagle Bancorp by 19.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 13,386 shares of the financial services provider’s stock worth $314,000 after acquiring an additional 2,173 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Eagle Bancorp by 14.2% in the 1st quarter. Principal Financial Group Inc. now owns 178,102 shares of the financial services provider’s stock worth $4,184,000 after acquiring an additional 22,172 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Eagle Bancorp by 16.4% in the 1st quarter. BNP Paribas Financial Markets now owns 61,311 shares of the financial services provider’s stock worth $1,440,000 after acquiring an additional 8,620 shares in the last quarter. 78.03% of the stock is owned by 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.