Nuveen LLC Makes New Investment in Eagle Bancorp, Inc. $EGBN

Key Points

• Nuveen LLC has acquired 346,431 shares of Eagle Bancorp, Inc. for approximately $7.3 million, representing a 1.14% stake in the company.
• The company recently reported a substantial loss with an EPS of ($2.30), missing the consensus estimate significantly.
• Eagle Bancorp announced a quarterly dividend of $0.165 per share, translating to an annualized dividend yield of 3.4%.

Nuveen LLC bought a new position in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 346,431 shares of the financial services provider's stock, valued at approximately $7,275,000. Nuveen LLC owned about 1.14% of Eagle Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in Eagle Bancorp by 42.0% in the fourth quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock worth $82,000 after purchasing an additional 933 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Eagle Bancorp by 13.2% in the first quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider's stock worth $180,000 after buying an additional 1,000 shares during the period. Aigen Investment Management LP bought a new position in shares of Eagle Bancorp in the first quarter worth about $209,000. Oppenheimer & Co. Inc. raised its stake in shares of Eagle Bancorp by 24.6% in the first quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider's stock worth $213,000 after buying an additional 2,000 shares during the period. Finally, Graham Capital Management L.P. bought a new position in shares of Eagle Bancorp in the fourth quarter worth about $220,000. 78.03% of the stock is owned by hedge funds and other institutional investors.

Eagle Bancorp Price Performance

EGBN traded up $0.17 on Friday, hitting $19.42. 322,643 shares of the company's stock traded hands, compared to its average volume of 595,499. The company's 50 day simple moving average is $18.89 and its 200-day simple moving average is $19.56. The firm has a market cap of $589.79 million, a price-to-earnings ratio of -19.04 and a beta of 1.07. Eagle Bancorp, Inc. has a one year low of $15.47 and a one year high of $30.94. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported ($2.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($2.70). Eagle Bancorp had a negative net margin of 4.60% and a negative return on equity of 2.54%. The business had revenue of $74.19 million for the quarter, compared to the consensus estimate of $73.03 million. As a group, research analysts anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 8th were paid a $0.165 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.66 dividend on an annualized basis and a yield of 3.4%. Eagle Bancorp's payout ratio is presently -64.71%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EGBN shares. Piper Sandler decreased their price objective on Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Janney Montgomery Scott raised Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective on the stock in a research note on Tuesday, June 10th. Jefferies Financial Group set a $20.00 price objective on Eagle Bancorp and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Finally, Wall Street Zen downgraded Eagle Bancorp from a "hold" rating to a "strong sell" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Eagle Bancorp presently has an average rating of "Hold" and an average target price of $21.00.

Eagle Bancorp Profile

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.