Eagle Bancorp price target lowered to $27.50 from $31 at Piper Sandler

Piper Sandler lowered the firm’s price target on Eagle Bancorp (EGBN) to $27.50 from $31 and keeps a Neutral rating on the shares following quarterly results. The firm believes there remains a fair amount of credit concern baked into shares with the stock hovering around 60% of TBVPS. It was encouraging to see criticized loan balances exhibit an L/Q decline for the first time since early 2023, though the quarter did also include the write-down and migration to substandard & into nonperforming of a large office credit in Bethesda, MD, Piper adds.