Eagle Bancorp (NASDAQ:EGBN) Stock Rating Lowered by Piper Jaffray Companies

Eagle Bancorp (NASDAQ:EGBN) was downgraded by equities research analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research note issued on Friday, Marketbeat reports. They currently have a $47.00 target price on the financial services provider’s stock, down from their previous target price of $63.00. Piper Jaffray Companies’ price target would indicate a potential upside of 18.60% from the company’s previous close. Piper Jaffray Companies also issued estimates for Eagle Bancorp’s Q2 2019 earnings at $1.13 EPS, Q3 2019 earnings at $1.16 EPS, Q3 2019 earnings at $1.04 EPS, Q4 2019 earnings at $1.03 EPS, Q4 2019 earnings at $1.18 EPS, FY2019 earnings at $4.56 EPS, Q1 2020 earnings at $1.16 EPS, Q1 2020 earnings at $1.03 EPS, Q2 2020 earnings at $1.05 EPS, Q2 2020 earnings at $1.19 EPS, Q3 2020 earnings at $1.23 EPS, Q3 2020 earnings at $1.10 EPS, Q4 2020 earnings at $1.12 EPS, Q4 2020 earnings at $1.26 EPS and FY2020 earnings at $4.84 EPS.

Other research analysts also recently issued reports about the company. Sandler O’Neill reissued a “hold” rating on shares of Eagle Bancorp in a research note on Thursday. BidaskClub downgraded Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Boenning Scattergood reissued an “outperform” rating and issued a $47.75 price objective on shares of WSFS Financial in a research note on Thursday, June 20th. Stephens set a $22.00 price objective on Home Bancshares and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $59.40.

Shares of Eagle Bancorp stock opened at $39.63 on Friday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.21. Eagle Bancorp has a 52-week low of $38.67 and a 52-week high of $60.77. The firm’s 50-day moving average price is $53.79.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.05). Eagle Bancorp had a net margin of 33.71% and a return on equity of 13.77%. The company had revenue of $87.70 million during the quarter, compared to the consensus estimate of $82.37 million. During the same period in the previous year, the business posted $1.09 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts predict that Eagle Bancorp will post 4.44 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of EGBN. Pearl River Capital LLC bought a new position in Eagle Bancorp in the 1st quarter worth approximately $104,000. Zions Bancorporation N.A. bought a new position in Eagle Bancorp in the 1st quarter worth approximately $177,000. Marshall Wace North America L.P. bought a new position in Eagle Bancorp in the 1st quarter worth approximately $189,000. Xact Kapitalforvaltning AB bought a new position in Eagle Bancorp in the 2nd quarter worth approximately $203,000. Finally, Brinker Capital Inc. bought a new position in Eagle Bancorp in the 4th quarter worth approximately $206,000. 76.01% of the stock is currently owned by institutional investors.

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. It accepts business and personal checking, NOW, tiered savings, and money market accounts, as well as individual retirement and investment sweep accounts; and time deposits.

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Analyst Recommendations for Eagle Bancorp (NASDAQ:EGBN)

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