Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 246,651 shares of the financial services provider's stock after selling 15,415 shares during the period. Bank of New York Mellon Corp owned about 0.81% of Eagle Bancorp worth $5,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in Eagle Bancorp during the 4th quarter worth about $329,000. American Century Companies Inc. lifted its holdings in Eagle Bancorp by 14.7% during the 4th quarter. American Century Companies Inc. now owns 648,192 shares of the financial services provider's stock worth $16,872,000 after buying an additional 83,305 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Eagle Bancorp during the 4th quarter worth about $515,000. LPL Financial LLC lifted its holdings in Eagle Bancorp by 2.4% during the 4th quarter. LPL Financial LLC now owns 20,246 shares of the financial services provider's stock worth $527,000 after buying an additional 467 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Eagle Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,689,423 shares of the financial services provider's stock worth $70,006,000 after buying an additional 35,255 shares during the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on EGBN. Piper Sandler decreased their price target on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Janney Montgomery Scott raised Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price target for the company in a report on Tuesday, June 10th. Jefferies Financial Group set a $20.00 target price on Eagle Bancorp and gave the company a "hold" rating in a report on Wednesday, May 21st. Wall Street Zen downgraded Eagle Bancorp from a "hold" rating to a "strong sell" rating in a report on Saturday. Finally, Keefe, Bruyette & Woods reduced their target price on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $21.75.

Eagle Bancorp Stock Performance

Shares of Eagle Bancorp stock traded up $0.32 on Monday, hitting $16.57. The stock had a trading volume of 759,781 shares, compared to its average volume of 513,056. Eagle Bancorp, Inc. has a 52-week low of $15.74 and a 52-week 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. The stock has a market cap of $503.40 million, a price-to-earnings ratio of -16.25 and a beta of 1.05. The company's 50 day moving average price is $18.80 and its 200 day moving average price is $20.83.

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

Eagle Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 8th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, August 8th. Eagle Bancorp's dividend payout ratio (DPR) is presently -64.71%.

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.