Eagle Bancorp, Inc. $EGBN Shares Purchased by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Eagle Bancorp by 9.6% in the first quarter, acquiring an additional 19,818 shares, bringing its total ownership to approximately $4.77 million.
• Eagle Bancorp reported a quarterly loss of ($2.30) EPS, which significantly missed the consensus estimate, although its revenue of $74.19 million exceeded expectations.
• The company declared a quarterly dividend of $0.165 per share, representing a 3.6% yield, despite having a negative dividend payout ratio of -64.71%.

Algert Global LLC increased its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,326 shares of the financial services provider's stock after purchasing an additional 19,818 shares during the period. Algert Global LLC owned approximately 0.75% of Eagle Bancorp worth $4,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Eagle Bancorp by 72.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,640 shares of the financial services provider's stock worth $412,000 after purchasing an additional 8,277 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Eagle Bancorp by 24.6% during the first quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider's stock worth $213,000 after purchasing an additional 2,000 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Eagle Bancorp during the first quarter worth $3,532,000. GAMMA Investing LLC raised its holdings in shares of Eagle Bancorp by 1,812.4% during the first quarter. GAMMA Investing LLC now owns 68,082 shares of the financial services provider's stock worth $1,430,000 after purchasing an additional 64,522 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its holdings in shares of Eagle Bancorp by 91.0% during the first quarter. Chevy Chase Trust Holdings LLC now owns 40,170 shares of the financial services provider's stock worth $844,000 after purchasing an additional 19,135 shares during the last quarter. Hedge funds and other institutional investors own 78.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EGBN. Keefe, Bruyette & Woods reduced their target price on shares of Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Janney Montgomery Scott raised shares of Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price for the company in a report on Tuesday, June 10th. Piper Sandler reduced their target price on shares of Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Jefferies Financial Group set a $20.00 price objective on shares of Eagle Bancorp and gave the company a "hold" rating in a report on Wednesday, May 21st. Finally, Wall Street Zen cut shares of Eagle Bancorp from a "hold" rating to a "strong sell" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Eagle Bancorp presently has a consensus rating of "Hold" and an average target price of $21.00.

Eagle Bancorp Price Performance

Shares of EGBN stock traded up $1.36 on Friday, reaching $19.15. 724,836 shares of the company were exchanged, compared to its average volume of 649,145. The company has a market cap of $581.59 million, a price-to-earnings ratio of -18.77 and a beta of 1.07. The business has a 50-day moving average price of $18.65 and a 200 day moving average price of $19.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85. Eagle Bancorp, Inc. has a 1 year low of $15.47 and a 1 year high of $30.94.

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

Eagle Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.4%. Eagle Bancorp's payout ratio is currently -64.71%.

About Eagle Bancorp

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.