Eagle Bancorp, Inc. (NASDAQ:EGBN) Receives Consensus Rating of “Reduce” from Analysts

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) have earned a consensus recommendation of “Reduce” from the six research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $21.25.

Several research firms recently issued reports on EGBN. Wall Street Zen cut shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 26th. Zacks Research downgraded shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Piper Sandler lowered their price objective on shares of Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, October 8th.

Insider Activity at Eagle Bancorp

In other news, CFO Eric R. Newell acquired 3,050 shares of Eagle Bancorp stock in a transaction dated Friday, November 14th. The shares were acquired at an average cost of $16.55 per share, with a total value of $50,477.50. Following the purchase, the chief financial officer directly owned 33,615 shares of the company’s stock, valued at approximately $556,328.25. This trade represents a 9.98% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eagle Bancorp

Institutional investors have recently bought and sold shares of the business. MAI Capital Management lifted its holdings in shares of Eagle Bancorp by 24.2% during the 2nd quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 671 shares in the last quarter. Versant Capital Management Inc raised its position in Eagle Bancorp by 102.2% in the third quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 753 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Eagle Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 780 shares in the last quarter. CWM LLC lifted its stake in shares of Eagle Bancorp by 5.5% during the first quarter. CWM LLC now owns 15,287 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 802 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Eagle Bancorp by 5.6% in the first quarter. Inspire Investing LLC now owns 16,339 shares of the financial services provider’s stock worth $343,000 after buying an additional 860 shares during the period. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Bancorp Price Performance

EGBN stock opened at $17.96 on Friday. The stock has a market capitalization of $545.46 million, a price-to-earnings ratio of -4.54 and a beta of 1.17. The stock’s fifty day simple moving average is $18.87 and its 200-day simple moving average is $18.71. Eagle Bancorp has a 52-week low of $15.03 and a 52-week high of $30.94. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.07.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Monday, September 11th. The financial services provider reported $1.20 earnings per share for the quarter. The firm had revenue of $88.48 million for the quarter. Eagle Bancorp had a negative return on equity of 10.07% and a negative net margin of 18.65%. Equities research analysts expect that Eagle Bancorp will post 2.31 EPS for the current year.

Eagle Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.01 per share. The ex-dividend date was Monday, November 3rd. This represents a $0.04 annualized dividend and a yield of 0.2%. Eagle Bancorp’s dividend payout ratio is currently -1.01%.

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.