Eagle Bancorp (NASDAQ:EGBN) Given New $32.00 Price Target at Keefe, Bruyette & Woods

Eagle Bancorp (NASDAQ:EGBN) had its target price boosted by Keefe, Bruyette & Woods from $25.00 to $32.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on EGBN. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Piper Sandler assumed coverage on shares of Eagle Bancorp in a research report on Monday, October 21st. They set a “neutral” rating and a $27.00 target price on the stock.

Eagle Bancorp Stock Up 0.9 %

Eagle Bancorp stock opened at $29.48 on Wednesday. Eagle Bancorp has a fifty-two week low of $15.99 and a fifty-two week high of $31.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day moving average price of $26.28 and a 200 day moving average price of $22.11. The company has a market capitalization of $890.35 million, a PE ratio of -21.06 and a beta of 1.09.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.27. The firm had revenue of $180.76 million during the quarter, compared to the consensus estimate of $80.31 million. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. During the same quarter last year, the firm earned $0.91 EPS. Research analysts expect that Eagle Bancorp will post 1.68 earnings per share for the current year.

Eagle Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 21st were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Monday, October 21st. Eagle Bancorp’s dividend payout ratio is presently -47.14%.

Institutional Investors Weigh In On Eagle Bancorp

A number of large investors have recently added to or reduced their stakes in EGBN. Price T Rowe Associates Inc. MD grew its holdings in Eagle Bancorp by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,187 shares of the financial services provider’s stock valued at $710,000 after purchasing an additional 1,152 shares in the last quarter. CWM LLC grew its holdings in Eagle Bancorp by 78.8% during the 2nd quarter. CWM LLC now owns 9,876 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 4,351 shares in the last quarter. SG Americas Securities LLC grew its holdings in Eagle Bancorp by 15.8% during the 2nd quarter. SG Americas Securities LLC now owns 21,885 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 2,990 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Eagle Bancorp by 12.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,995 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 1,609 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Eagle Bancorp by 122.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,917 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 3,804 shares in the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.

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.