Bridgeway Capital Management LLC Has $3.38 Million Holdings in Eagle Bancorp, Inc. $EGBN

Key Points

• Bridgeway Capital Management LLC increased its holdings in Eagle Bancorp, Inc. by 60.7%, owning a total of 161,157 shares worth approximately $3.38 million as of its latest SEC filing.
• Eagle Bancorp reported a quarterly earnings loss of ($2.30) EPS, significantly missing the analysts' expectation of $0.40, while revenue was slightly above estimates at $74.19 million.
• The company declared a quarterly dividend of $0.165 per share, with a resulting annualized dividend yield of 3.3%, although its payout ratio stands at -64.71%.

Bridgeway Capital Management LLC lifted its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 60.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,157 shares of the financial services provider's stock after purchasing an additional 60,898 shares during the period. Bridgeway Capital Management LLC owned 0.53% of Eagle Bancorp worth $3,384,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in 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 acquiring an additional 8,277 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position 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 valued at $213,000 after buying an additional 2,000 shares during the last quarter. Jump Financial LLC bought a new position in shares of Eagle Bancorp during the 1st quarter worth approximately $930,000. Jupiter Asset Management Ltd. bought a new stake in Eagle Bancorp in the 1st quarter valued at $3,532,000. Finally, GAMMA Investing LLC raised its stake in Eagle Bancorp by 1,812.4% in the 1st quarter. GAMMA Investing LLC now owns 68,082 shares of the financial services provider's stock valued at $1,430,000 after acquiring an additional 64,522 shares during the period. Institutional investors and hedge funds own 78.03% of the company's stock.

Analysts Set New Price Targets

EGBN has been the subject of several research analyst reports. 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 price objective on Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Wall Street Zen downgraded Eagle Bancorp from a "hold" rating to a "strong sell" rating in a research report on Saturday, July 26th. Finally, Jefferies Financial Group set a $20.00 price target on Eagle Bancorp and gave the stock a "hold" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.00.

Eagle Bancorp Price Performance

Shares of Eagle Bancorp stock traded up $0.15 during trading on Wednesday, reaching $19.63. 232,798 shares of the company's stock were exchanged, compared to its average volume of 410,676. 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. The company has a market cap of $596.13 million, a P/E ratio of -19.29 and a beta of 1.14. The firm's 50-day moving average price is $19.00 and its 200 day moving average price is $19.32.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted 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%. As a group, research analysts anticipate that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

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

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.