Eagle Bancorp (NASDAQ:EGBN) Upgraded to Buy at Janney Montgomery Scott

Eagle Bancorp (NASDAQ:EGBNGet Free Report) was upgraded by investment analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $24.00 price objective on the financial services provider’s stock. Janney Montgomery Scott’s price target points to a potential upside of 28.82% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods reduced their price objective on Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Jefferies Financial Group set a $20.00 target price on shares of Eagle Bancorp and gave the company a “hold” rating in a research note on Wednesday, May 21st. Finally, Piper Sandler decreased their target price on Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Eagle Bancorp currently has a consensus rating of “Hold” and a consensus target price of $21.75.

Get Our Latest Analysis on EGBN

Eagle Bancorp Stock Performance

Shares of EGBN opened at $18.63 on Tuesday. The firm has a market cap of $565.92 million, a price-to-earnings ratio of -11.87 and a beta of 1.03. Eagle Bancorp has a 12 month low of $15.99 and a 12 month high of $30.94. The company’s fifty day moving average is $18.62 and its 200-day moving average is $22.76. 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 (NASDAQ:EGBNGet Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $71.93 million. Equities analysts expect that Eagle Bancorp will post 2.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Eagle Bancorp

Several hedge funds have recently bought and sold shares of the company. Fourthstone LLC lifted its position in shares of Eagle Bancorp by 382.7% in the fourth quarter. Fourthstone LLC now owns 1,276,653 shares of the financial services provider’s stock worth $33,231,000 after purchasing an additional 1,012,182 shares in the last quarter. North Reef Capital Management LP raised its position in shares of Eagle Bancorp by 251.9% in the fourth quarter. North Reef Capital Management LP now owns 967,593 shares of the financial services provider’s stock valued at $25,186,000 after purchasing an additional 692,593 shares during the period. BlackBarn Capital Partners LP acquired a new stake in shares of Eagle Bancorp during the first quarter worth $7,980,000. Nuveen LLC acquired a new stake in shares of Eagle Bancorp in the first quarter valued at approximately $7,275,000. Finally, Millennium Management LLC grew its holdings in shares of Eagle Bancorp by 164.6% during the 1st quarter. Millennium Management LLC now owns 314,370 shares of the financial services provider’s stock worth $6,602,000 after purchasing an additional 195,567 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors and hedge funds.

About Eagle Bancorp

(Get Free Report)

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.

Further Reading

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