164,776 Shares in Eagle Bancorp, Inc. $EGBN Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 164,776 shares of the financial services provider's stock, valued at approximately $4,678,000. Bank of New York Mellon Corp owned about 0.54% of Eagle Bancorp as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of EGBN. Farther Finance Advisors LLC grew its holdings in shares of Eagle Bancorp by 128.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider's stock valued at $30,000 after buying an additional 782 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Eagle Bancorp in the 1st quarter worth $37,000. Tower Research Capital LLC TRC boosted its position in shares of Eagle Bancorp by 113.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider's stock valued at $80,000 after buying an additional 2,172 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Eagle Bancorp in the 2nd quarter worth about $99,000. Finally, Versant Capital Management Inc lifted its stake in Eagle Bancorp by 16.2% during the 2nd quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider's stock valued at $101,000 after acquiring an additional 493 shares during the period. 78.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on EGBN. Zacks Research upgraded Eagle Bancorp from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Eagle Bancorp in a report on Wednesday. Finally, Piper Sandler upped their target price on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $29.00.

Eagle Bancorp Stock Performance

NASDAQ:EGBN opened at $28.18 on Friday. The stock has a 50-day moving average price of $27.74 and a 200 day moving average price of $26.73. The stock has a market capitalization of $858.93 million, a P/E ratio of -22.37 and a beta of 0.96. Eagle Bancorp, Inc. has a 12-month low of $15.03 and a 12-month high of $29.29. 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 - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.11). The company had revenue of $73.11 million for the quarter, compared to the consensus estimate of $74.41 million. Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%. Equities research analysts forecast that Eagle Bancorp, Inc. will post 1.52 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Thursday, August 6th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date was Thursday, August 6th. Eagle Bancorp's dividend payout ratio (DPR) is currently -3.17%.

About Eagle Bancorp

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company's product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.

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