Piper Sandler Initiates Coverage on Eagle Bancorp (NASDAQ:EGBN)

Analysts at Piper Sandler started coverage on shares of Eagle Bancorp (NASDAQ:EGBN) in a research note issued on Monday, MarketBeat reports. The firm set a “neutral” rating and a $27.00 price target on the financial services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 16.88% from the company’s previous close.

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Eagle Bancorp Trading Down 0.2 %

Eagle Bancorp stock opened at $23.10 on Monday. Eagle Bancorp has a 52-week low of $15.99 and a 52-week high of $31.97. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $697.39 million, a price-to-earnings ratio of 9.20 and a beta of 1.09. The firm has a 50-day moving average price of $22.09 and a two-hundred day moving average price of $20.47.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.34. The business had revenue of $175.06 million during the quarter, compared to the consensus estimate of $80.90 million. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. During the same period in the previous year, the firm posted $0.94 earnings per share. Sell-side analysts expect that Eagle Bancorp will post 1.46 earnings per share for the current year.

Institutional Investors Weigh In On Eagle Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Eagle Bancorp by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock valued at $101,351,000 after buying an additional 126,085 shares in the last quarter. Riverview Trust Co acquired a new position in shares of Eagle Bancorp in the 1st quarter valued at $26,000. Hennion & Walsh Asset Management Inc. raised its holdings in Eagle Bancorp by 19.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 13,386 shares of the financial services provider’s stock worth $314,000 after buying an additional 2,173 shares during the period. Principal Financial Group Inc. lifted its stake in Eagle Bancorp by 14.2% during the first quarter. Principal Financial Group Inc. now owns 178,102 shares of the financial services provider’s stock valued at $4,184,000 after buying an additional 22,172 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Eagle Bancorp by 16.4% during the first quarter. BNP Paribas Financial Markets now owns 61,311 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 8,620 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors.

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.