Eagle Bancorp, Inc. $EGBN Shares Acquired by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Eagle Bancorp by 2.2%, owning 2,748,105 shares worth approximately $57.71 million after acquiring an additional 58,682 shares in the 1st quarter.
• Analysts have mixed views on Eagle Bancorp, with a consensus rating of "Hold" and a target price of $21.00, while Jefferies Financial Group set a price target of $20.00.
• Eagle Bancorp will distribute a quarterly dividend of $0.165 per share, representing a 3.4% annual yield, with the ex-dividend date on August 8th.

Vanguard Group Inc. boosted its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,748,105 shares of the financial services provider's stock after acquiring an additional 58,682 shares during the quarter. Vanguard Group Inc. owned about 9.05% of Eagle Bancorp worth $57,710,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Eagle Bancorp by 3.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,801 shares of the financial services provider's stock worth $437,000 after acquiring an additional 488 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Eagle Bancorp by 5.7% during the fourth quarter. Quantinno Capital Management LP now owns 11,146 shares of the financial services provider's stock valued at $290,000 after acquiring an additional 601 shares during the last quarter. CWM LLC grew its holdings in Eagle Bancorp by 5.5% in the 1st quarter. CWM LLC now owns 15,287 shares of the financial services provider's stock valued at $321,000 after buying an additional 802 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Eagle Bancorp by 42.0% in the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock worth $82,000 after acquiring an additional 933 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Eagle Bancorp by 13.2% during 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 purchasing an additional 1,000 shares during the period. 78.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EGBN. 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 report on Wednesday, August 6th. 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. Janney Montgomery Scott raised Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective on the stock in a research report on Tuesday, June 10th. Finally, 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. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $21.00.

Eagle Bancorp Stock Up 0.9%

Shares of Eagle Bancorp stock traded up $0.17 during trading hours on Friday, hitting $19.42. The company had a trading volume of 322,643 shares, compared to its average volume of 595,499. The company's 50-day moving average is $18.89 and its two-hundred day moving average is $19.60. Eagle Bancorp, Inc. has a twelve month low of $15.47 and a twelve month high of $30.94. 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 cap of $589.79 million, a P/E ratio of -19.04 and a beta of 1.07.

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

Eagle Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 8th will be issued a $0.165 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.4%. Eagle Bancorp's dividend payout ratio is currently -64.71%.

About Eagle Bancorp

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.