Eagle Bancorp (NASDAQ:EGBN) Raised to Hold at StockNews.com

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

EGBN has been the topic of several other reports. Keefe, Bruyette & Woods increased their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Piper Sandler assumed coverage on Eagle Bancorp in a research report on Monday, October 21st. They set a “neutral” rating and a $27.00 price target on the stock.

Eagle Bancorp Price Performance

Shares of NASDAQ EGBN opened at $26.17 on Thursday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.02 and a current ratio of 1.02. Eagle Bancorp has a fifty-two week low of $15.99 and a fifty-two week high of $31.97. The stock’s 50-day simple moving average is $22.43 and its 200-day simple moving average is $20.54. The firm has a market capitalization of $789.81 million, a PE ratio of -21.63 and a beta of 1.09.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results 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. The firm had revenue of $180.76 million during the quarter, compared to analysts’ expectations of $80.31 million. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. During the same quarter in the prior year, the business earned $0.91 EPS. As a group, equities research analysts forecast that Eagle Bancorp will post 1.56 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.66 annualized dividend and a yield of 2.52%. Eagle Bancorp’s payout ratio is -54.55%.

Institutional Trading of Eagle Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its holdings 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 valued at $57,000 after buying an additional 846 shares during the last quarter. Inspire Investing LLC bought a new position in Eagle Bancorp in the 3rd quarter worth approximately $416,000. CWM LLC boosted its holdings in Eagle Bancorp by 46.7% in the 3rd quarter. CWM LLC now owns 14,491 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 4,615 shares during the period. Divergent Planning LLC acquired a new stake in Eagle Bancorp during the third quarter worth about $218,000. Finally, GAMMA Investing LLC increased its position in shares of Eagle Bancorp by 102.0% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,234 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.