Eagle Bancorp (NASDAQ:EGBN) Upgraded by StockNews.com to Hold

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

Several other equities analysts also recently issued reports on EGBN. Keefe, Bruyette & Woods upped their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Piper Sandler began coverage on shares of Eagle Bancorp in a report on Monday. They issued a “neutral” rating and a $27.00 price target on the stock.

Eagle Bancorp Stock Down 1.3 %

NASDAQ:EGBN traded down $0.36 during mid-day trading on Thursday, reaching $26.52. The company’s stock had a trading volume of 52,491 shares, compared to its average volume of 321,568. Eagle Bancorp has a 1 year low of $15.99 and a 1 year high of $31.97. The stock has a fifty day moving average of $22.31 and a 200-day moving average of $20.54. The firm has a market capitalization of $800.64 million, a PE ratio of 10.71 and a beta of 1.09. 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 (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.27. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. The company had revenue of $180.76 million during the quarter, compared to analyst estimates of $80.31 million. During the same period in the prior year, the firm earned $0.91 earnings per share. Equities research analysts forecast that Eagle Bancorp will post 1.46 earnings per share for the current year.

Eagle Bancorp Cuts Dividend

The company also recently disclosed 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 of this dividend is Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.49%. Eagle Bancorp’s payout ratio is 26.29%.

Institutional Investors Weigh In On Eagle Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in EGBN. Riverview Trust Co acquired a new stake in shares of Eagle Bancorp during the 1st quarter worth approximately $26,000. Point72 Asset Management L.P. acquired a new stake in shares of Eagle Bancorp during the 2nd quarter worth approximately $35,000. Carmichael Hill & Associates Inc. grew its stake in shares of Eagle Bancorp by 36.1% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 721 shares during the period. GAMMA Investing LLC grew its stake in shares of Eagle Bancorp by 102.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,234 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Eagle Bancorp by 49.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 846 shares during the period. Institutional investors and hedge funds own 78.03% of the company’s stock.

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.