AlphaQuest LLC Has $715,000 Holdings in Eagle Bancorp, Inc. $EGBN

Key Points

• AlphaQuest LLC significantly increased its stake in Eagle Bancorp by 761.6%, owning 34,026 shares valued at approximately $715,000 after purchasing an additional 30,077 shares in Q1.
• Recent analyst ratings for Eagle Bancorp show varied opinions, with one upgrade to a "buy" rating and a consensus target price of $21.00, while some firms have issued lower price targets and a "strong sell" rating.
• Eagle Bancorp has announced a quarterly dividend of $0.165, with a yield of 3.4%, despite a reported earnings loss of ($2.30) per share last quarter, which missed expectations.

AlphaQuest LLC increased its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 761.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,026 shares of the financial services provider's stock after purchasing an additional 30,077 shares during the quarter. AlphaQuest LLC owned approximately 0.11% of Eagle Bancorp worth $715,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new position in shares of Eagle Bancorp in the first quarter valued at approximately $205,000. Quantbot Technologies LP lifted its position in shares of Eagle Bancorp by 322.7% in the first quarter. Quantbot Technologies LP now owns 53,370 shares of the financial services provider's stock valued at $1,121,000 after acquiring an additional 40,744 shares in the last quarter. Algert Global LLC lifted its position in shares of Eagle Bancorp by 9.6% in the first quarter. Algert Global LLC now owns 227,326 shares of the financial services provider's stock valued at $4,774,000 after acquiring an additional 19,818 shares in the last quarter. American Century Companies Inc. lifted its position in Eagle Bancorp by 6.7% during the first quarter. American Century Companies Inc. now owns 691,789 shares of the financial services provider's stock worth $14,528,000 after buying an additional 43,597 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Eagle Bancorp during the first quarter worth about $259,000. Hedge funds and other institutional investors own 78.03% of the company's stock.

Eagle Bancorp Stock Performance

EGBN traded up $0.17 on Friday, hitting $19.42. 322,643 shares of the stock traded hands, compared to its average volume of 595,499. Eagle Bancorp, Inc. has a 52 week low of $15.47 and a 52 week high of $30.94. The firm has a market capitalization of $589.79 million, a PE ratio of -19.04 and a beta of 1.07. The business has a fifty day moving average price of $18.89 and a two-hundred day moving average price of $19.56. 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 posted its quarterly earnings data 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 return on equity of 2.54% and a negative net margin of 4.60%.The firm had revenue of $74.19 million for the quarter, compared to analyst estimates of $73.03 million. On average, research analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

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