AlphaQuest LLC Boosts 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 raised its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 761.6% in the 1st quarter, according to its most recent 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 period. AlphaQuest LLC owned 0.11% of Eagle Bancorp worth $715,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Eagle Bancorp by 42.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 933 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Eagle Bancorp by 13.2% in the 1st 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 last quarter. Hsbc Holdings PLC purchased a new stake in shares of Eagle Bancorp during the 1st quarter valued at about $205,000. Aigen Investment Management LP purchased a new stake in shares of Eagle Bancorp during the 1st quarter valued at about $209,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of Eagle Bancorp by 24.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider's stock valued at $213,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 78.03% of the company's stock.

Eagle Bancorp Trading Down 0.9%

EGBN stock traded down $0.17 during mid-day trading on Thursday, reaching $19.25. The company had a trading volume of 251,906 shares, compared to its average volume of 414,500. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $584.60 million, a PE ratio of -18.87 and a beta of 1.07. The firm has a 50 day moving average of $18.80 and a 200 day moving average of $19.69. Eagle Bancorp, Inc. has a 12 month low of $15.47 and a 12 month high of $30.94.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $73.03 million. Eagle Bancorp had a negative return on equity of 2.54% and a negative net margin of 4.60%. On average, equities analysts predict that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 8th will be 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 is Friday, August 8th. Eagle Bancorp's dividend payout ratio is currently -64.71%.

Analyst Ratings Changes

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

Eagle Bancorp Company 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.