Piper Sandler Has Lowered Expectations for Eagle Bancorp (NASDAQ:EGBN) Stock Price

Eagle Bancorp (NASDAQ:EGBN) had its price target dropped by analysts at Piper Sandler from $25.00 to $21.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price indicates a potential upside of 15.45% from the company’s previous close.

Separately, Keefe, Bruyette & Woods reduced their target price on Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating for the company in a report on Monday.

Eagle Bancorp Stock Performance

Shares of EGBN opened at $18.19 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. Eagle Bancorp has a 52-week low of $15.99 and a 52-week high of $30.94. The stock has a 50 day moving average price of $20.83 and a 200 day moving average price of $24.62. The company has a market capitalization of $552.43 million, a price-to-earnings ratio of -11.59 and a beta of 1.04.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.40). Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. The company had revenue of $73.86 million during the quarter, compared to analysts’ expectations of $71.93 million. Research analysts predict that Eagle Bancorp will post 2.31 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Eric R. Newell acquired 1,170 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average price of $21.37 per share, for a total transaction of $25,002.90. Following the transaction, the chief financial officer now owns 28,733 shares in the company, valued at $614,024.21. This represents a 4.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EGBN. Smartleaf Asset Management LLC lifted its holdings in shares of Eagle Bancorp by 353.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after buying an additional 775 shares during the period. R Squared Ltd purchased a new stake in shares of Eagle Bancorp during the 4th quarter worth $51,000. Millstone Evans Group LLC acquired a new position in shares of Eagle Bancorp during the 4th quarter worth $59,000. Russell Investments Group Ltd. increased its holdings in shares of Eagle Bancorp by 42.0% in the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 933 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Eagle Bancorp by 45.7% in the fourth quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 1,116 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.

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.