Keefe, Bruyette & Woods Cuts Eagle Bancorp (NASDAQ:EGBN) Price Target to $30.00

Eagle Bancorp (NASDAQ:EGBN) had its price objective lowered by Keefe, Bruyette & Woods from $32.00 to $30.00 in a research note published on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

EGBN has been the subject of several other reports. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Piper Sandler decreased their price target on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a report on Friday, January 24th.

Eagle Bancorp Price Performance

Shares of NASDAQ EGBN opened at $26.03 on Monday. The stock’s 50-day moving average is $26.91 and its two-hundred day moving average is $24.42. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $786.11 million, a price-to-earnings ratio of -16.58 and a beta of 1.10. Eagle Bancorp has a 1-year low of $15.99 and a 1-year high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.69% and a negative net margin of 6.65%. Analysts forecast that Eagle Bancorp will post 2.42 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $0.165 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.54%. Eagle Bancorp’s dividend payout ratio (DPR) is presently -42.04%.

Institutional Investors Weigh In On Eagle Bancorp

Several large investors have recently modified their holdings of the company. Fourthstone LLC purchased a new position in shares of Eagle Bancorp during the third quarter worth about $5,972,000. AQR Capital Management LLC lifted its position in Eagle Bancorp by 53.2% during the 2nd quarter. AQR Capital Management LLC now owns 539,186 shares of the financial services provider’s stock worth $10,191,000 after acquiring an additional 187,249 shares during the period. Dimensional Fund Advisors LP lifted its position in Eagle Bancorp by 13.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,440 shares of the financial services provider’s stock worth $26,637,000 after acquiring an additional 169,621 shares during the period. Algert Global LLC grew its stake in shares of Eagle Bancorp by 146.4% in the 3rd quarter. Algert Global LLC now owns 154,462 shares of the financial services provider’s stock valued at $3,488,000 after purchasing an additional 91,782 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Eagle Bancorp by 401.1% in the second quarter. Renaissance Technologies LLC now owns 105,636 shares of the financial services provider’s stock valued at $1,997,000 after purchasing an additional 84,556 shares during the period. 78.03% of the stock is owned by institutional investors and hedge funds.

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.