Hovde Group Initiates Coverage on Eagle Bancorp (NASDAQ:EGBN)

Investment analysts at Hovde Group began coverage on shares of Eagle Bancorp (NASDAQ:EGBN) in a research note issued on Wednesday, MarketBeat reports. The firm set an “outperform” rating and a $37.00 price target on the financial services provider’s stock. Hovde Group’s target price indicates a potential upside of 30.74% from the company’s current price.

Other research analysts have also issued research reports about the company. Piper Sandler boosted their price target on Eagle Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a report on Wednesday, September 2nd. Finally, Zacks Research upgraded shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Eagle Bancorp Price Performance

NASDAQ EGBN opened at $28.30 on Wednesday. The company has a 50-day moving average price of $28.03 and a two-hundred day moving average price of $27.22. Eagle Bancorp has a 52 week low of $15.03 and a 52 week high of $29.29. The stock has a market cap of $862.58 million, a price-to-earnings ratio of -22.46 and a beta of 0.98. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.11). Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%.The business had revenue of $73.11 million for the quarter, compared to analyst estimates of $74.41 million. Analysts forecast that Eagle Bancorp will post 1.52 EPS for the current year.

Institutional Investors Weigh In On Eagle Bancorp

Several large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Eagle Bancorp during the second quarter worth approximately $39,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Eagle Bancorp during the 1st quarter worth $37,000. Integrated Wealth Concepts LLC bought a new position in shares of Eagle Bancorp during the 2nd quarter valued at $62,000. Versant Capital Management Inc lifted its stake in shares of Eagle Bancorp by 16.2% in the 2nd quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 493 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Eagle Bancorp by 10,807.4% in the 1st quarter. Fifth Third Bancorp now owns 5,890 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 5,836 shares during the last quarter. 78.03% of the stock is owned by institutional investors.

About Eagle Bancorp

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank serving businesses, professionals, nonprofit organizations and individuals. The company is headquartered in Bethesda, Maryland, and its primary market includes the Washington, DC, metropolitan area, including suburban Maryland and Northern Virginia.

EagleBank provides commercial banking products and services such as business and commercial real estate lending, construction and acquisition financing, commercial and industrial loans, residential and consumer lending, deposit accounts, cash-management services and online banking.