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

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

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

Eagle Bancorp Price Performance

Shares of NASDAQ:EGBN opened at $26.03 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $26.91 and a 200 day moving average price of $24.42. Eagle Bancorp has a 52 week low of $15.99 and a 52 week high of $30.94. The company has a market cap of $786.11 million, a P/E ratio of -16.58 and a beta of 1.10.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly 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 negative net margin of 6.65% and a positive return on equity of 4.69%. Research analysts predict that Eagle Bancorp will post 2.42 earnings per share for the current year.

Eagle Bancorp Announces Dividend

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

Hedge Funds Weigh In On Eagle Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of Eagle Bancorp by 3.7% in the third quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock valued at $16,254,000 after purchasing an additional 25,578 shares in the last quarter. Empowered Funds LLC lifted its stake in Eagle Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock valued at $639,000 after buying an additional 1,340 shares in the last quarter. HighTower Advisors LLC grew its holdings in Eagle Bancorp by 4.3% during the 3rd quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock valued at $247,000 after buying an additional 450 shares during the last quarter. BNP Paribas Financial Markets increased its position in Eagle Bancorp by 41.6% during the third quarter. BNP Paribas Financial Markets now owns 55,627 shares of the financial services provider’s stock worth $1,256,000 after buying an additional 16,338 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Eagle Bancorp by 63.9% in the third quarter. Jane Street Group LLC now owns 71,703 shares of the financial services provider’s stock worth $1,619,000 after acquiring an additional 27,942 shares during the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

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.