Eagle Bancorp (NASDAQ:EGBN) Coverage Initiated at Piper Sandler

Piper Sandler began coverage on shares of Eagle Bancorp (NASDAQ:EGBN - Free Report) in a research note published on Monday, MarketBeat.com reports. The firm issued a neutral rating and a $27.00 price target on the financial services provider's stock.

Separately, Keefe, Bruyette & Woods increased their price target on Eagle Bancorp from $20.00 to $22.00 and gave the stock a "market perform" rating in a research report on Monday, July 29th.

Eagle Bancorp Trading Down 5.3 %

EGBN stock traded down $1.30 during trading on Monday, hitting $23.15. The company had a trading volume of 399,608 shares, compared to its average volume of 320,004. Eagle Bancorp has a 52-week low of $15.99 and a 52-week high of $31.97. The company has a 50 day simple moving average of $21.93 and a 200-day simple moving average of $20.46. The firm has a market capitalization of $698.90 million, a P/E ratio of 9.22 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 - Get Free Report) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.34. The business had revenue of $175.06 million for the quarter, compared to the consensus estimate of $80.90 million. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. During the same period in the prior year, the firm earned $0.94 EPS. As a group, research analysts forecast that Eagle Bancorp will post 1.46 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm 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 is Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.85%. Eagle Bancorp's dividend payout ratio is presently 26.29%.

Hedge Funds Weigh In On Eagle Bancorp

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Eagle Bancorp by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider's stock valued at $101,351,000 after acquiring an additional 126,085 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Eagle Bancorp by 13.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,409,440 shares of the financial services provider's stock valued at $26,637,000 after purchasing an additional 169,621 shares in the last quarter. AQR Capital Management LLC grew its stake in Eagle Bancorp by 53.2% in the second quarter. AQR Capital Management LLC now owns 539,186 shares of the financial services provider's stock valued at $10,191,000 after purchasing an additional 187,249 shares during the last quarter. American Century Companies Inc. grew its stake in Eagle Bancorp by 16.5% in the second quarter. American Century Companies Inc. now owns 510,770 shares of the financial services provider's stock valued at $9,654,000 after purchasing an additional 72,415 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in Eagle Bancorp by 76.9% in the first quarter. Epoch Investment Partners Inc. now owns 457,881 shares of the financial services provider's stock worth $10,756,000 after purchasing an additional 199,057 shares in the last quarter. Institutional investors 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.