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Hennessy Advisors Inc. Trims Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Eagle Bancorp logo with Finance background

Hennessy Advisors Inc. lowered its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 31.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,000 shares of the financial services provider's stock after selling 46,000 shares during the quarter. Hennessy Advisors Inc. owned about 0.33% of Eagle Bancorp worth $2,100,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in shares of Eagle Bancorp by 353.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock worth $26,000 after buying an additional 775 shares in the last quarter. Millstone Evans Group LLC bought a new position in Eagle Bancorp during the fourth quarter worth $59,000. Russell Investments Group Ltd. grew its holdings in Eagle Bancorp by 42.0% in the fourth quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock worth $82,000 after purchasing an additional 933 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Eagle Bancorp in the fourth quarter valued at $212,000. Finally, Graham Capital Management L.P. bought a new stake in Eagle Bancorp in the fourth quarter valued at $220,000. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bancorp Price Performance

Eagle Bancorp stock traded up $0.23 during mid-day trading on Thursday, hitting $16.94. 410,133 shares of the company traded hands, compared to its average volume of 325,973. The stock has a market cap of $514.64 million, a price-to-earnings ratio of -11.29 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.87 and a current ratio of 0.87. Eagle Bancorp, Inc. has a one year low of $16.68 and a one year high of $30.94. The stock has a fifty day moving average price of $18.39 and a 200-day moving average price of $22.34.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.40). Eagle Bancorp had a negative net margin of 6.52% and a positive return on equity of 4.86%. The company had revenue of $73.86 million for the quarter, compared to analysts' expectations of $71.93 million. On average, equities analysts predict that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Monday, May 5th. Eagle Bancorp's dividend payout ratio (DPR) is presently -44.00%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EGBN. Keefe, Bruyette & Woods cut their price objective on shares of Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Piper Sandler lowered their target price on shares of Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Janney Montgomery Scott upgraded Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price target for the company in a research note on Tuesday, June 10th. Jefferies Financial Group set a $20.00 price objective on Eagle Bancorp and gave the stock a "hold" rating in a report on Wednesday, May 21st. Finally, Wall Street Zen downgraded Eagle Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $21.75.

View Our Latest Stock Analysis on Eagle Bancorp

Eagle Bancorp Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Eagle Bancorp (NASDAQ:EGBN)

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