Dimensional Fund Advisors LP Trims Stock Holdings in Eagle Bancorp, Inc. $EGBN

Key Points

• Dimensional Fund Advisors LP reduced its Eagle Bancorp stake by 12.2% in the first quarter, selling 155,027 shares and retaining 1.12 million shares worth approximately $27.8 million. Institutional investors collectively own 78.03% of the company.
• Eagle Bancorp reported quarterly earnings of $0.23 per share, missing analysts’ $0.34 estimate, while revenue of $73.11 million also fell short of expectations. The company posted negative net margin and return on equity.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $29.00 versus the stock’s $28.22 opening price. Eagle Bancorp also declared a $0.01 quarterly dividend, representing a 0.1% yield.

Dimensional Fund Advisors LP lessened its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 12.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,119,529 shares of the financial services provider's stock after selling 155,027 shares during the quarter. Dimensional Fund Advisors LP owned 3.69% of Eagle Bancorp worth $27,842,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Eagle Bancorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider's stock valued at $369,000 after buying an additional 780 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Eagle Bancorp by 128.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider's stock worth $30,000 after buying an additional 782 shares in the last quarter. Swiss National Bank increased its stake in shares of Eagle Bancorp by 1.9% in the first quarter. Swiss National Bank now owns 60,032 shares of the financial services provider's stock worth $1,493,000 after buying an additional 1,100 shares during the last quarter. Choreo LLC increased its stake in shares of Eagle Bancorp by 3.5% in the fourth quarter. Choreo LLC now owns 36,418 shares of the financial services provider's stock worth $768,000 after buying an additional 1,220 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in Eagle Bancorp by 10.6% in the first quarter. Illinois Municipal Retirement Fund now owns 14,813 shares of the financial services provider's stock valued at $368,000 after acquiring an additional 1,422 shares in the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Bancorp Stock Performance

Shares of EGBN opened at $28.22 on Thursday. The firm has a fifty day moving average of $27.60 and a 200-day moving average of $26.45. The company has a market cap of $860.77 million, a price-to-earnings ratio of -22.40 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.87. Eagle Bancorp, Inc. has a 1 year low of $15.03 and a 1 year high of $29.29.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.11). The firm had revenue of $73.11 million during the quarter, compared to analyst estimates of $74.41 million. Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%. As a group, equities analysts anticipate that Eagle Bancorp, Inc. will post 1.55 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Thursday, August 6th will be paid a $0.01 dividend. The ex-dividend date is Thursday, August 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. Eagle Bancorp's dividend payout ratio (DPR) is presently -3.17%.

Wall Street Analyst Weigh In

A number of research firms have commented on EGBN. Piper Sandler increased their price objective on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Weiss Ratings restated a "sell (d-)" rating on shares of Eagle Bancorp in a research note on Friday, June 5th. Zacks Research cut shares of Eagle Bancorp from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 29th. Finally, Raymond James Financial started coverage on Eagle Bancorp in a research note on Tuesday, April 14th. They issued a "strong-buy" rating and a $32.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Eagle Bancorp has a consensus rating of "Hold" and an average price target of $29.00.

About Eagle Bancorp

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company's product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.

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