Caxton Associates LLP Acquires New Holdings in Eagle Bancorp, Inc. $EGBN

Key Points

• Caxton Associates LLP acquired a new stake of 35,709 shares in Eagle Bancorp, valued at approximately $750,000, during the first quarter.
• Eagle Bancorp reported a quarterly earnings miss with an EPS of ($2.30), significantly below the forecasted $0.40.
• The company declared a quarterly dividend of $0.165, yielding 3.4% annually, despite a negative payout ratio of -64.71%.

Caxton Associates LLP purchased a new stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 35,709 shares of the financial services provider's stock, valued at approximately $750,000. Caxton Associates LLP owned approximately 0.12% of Eagle Bancorp at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Millennium Management LLC grew its position in Eagle Bancorp by 164.6% during the first quarter. Millennium Management LLC now owns 314,370 shares of the financial services provider's stock valued at $6,602,000 after acquiring an additional 195,567 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Eagle Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider's stock worth $369,000 after acquiring an additional 780 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Eagle Bancorp by 60.7% in the 1st quarter. Bridgeway Capital Management LLC now owns 161,157 shares of the financial services provider's stock worth $3,384,000 after purchasing an additional 60,898 shares in the last quarter. AQR Capital Management LLC increased its stake in Eagle Bancorp by 8.9% during the 1st quarter. AQR Capital Management LLC now owns 219,930 shares of the financial services provider's stock valued at $4,619,000 after purchasing an additional 17,943 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Eagle Bancorp by 74.5% during the first quarter. Cubist Systematic Strategies LLC now owns 130,737 shares of the financial services provider's stock valued at $2,745,000 after buying an additional 55,832 shares during the last quarter. 78.03% of the stock is currently owned by institutional investors.

Eagle Bancorp Trading Down 1.4%

Shares of Eagle Bancorp stock traded down $0.28 during mid-day trading on Friday, hitting $20.26. The stock had a trading volume of 430,969 shares, compared to its average volume of 475,726. The firm has a market cap of $615.30 million, a P/E ratio of -19.86 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. Eagle Bancorp, Inc. has a 12-month low of $15.47 and a 12-month high of $30.94. The firm has a 50-day moving average of $18.97 and a two-hundred day moving average of $19.26.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its quarterly 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). Eagle Bancorp had a negative return on equity of 2.54% and a negative net margin of 4.60%.The company had revenue of $74.19 million for the quarter, compared to analysts' expectations of $73.03 million. Sell-side analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 8th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 8th. Eagle Bancorp's dividend payout ratio is currently -64.71%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group set a $20.00 price objective on Eagle Bancorp and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Piper Sandler dropped their price objective on shares of Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Janney Montgomery Scott raised 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. 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. Based on data from MarketBeat, Eagle Bancorp presently has an average rating of "Hold" and an average price target 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.