Hennessy Advisors Inc. Lowers Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Hennessy Advisors Inc. trimmed its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 31.5% during the 1st quarter, according to the company in its most recent filing 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 period. Hennessy Advisors Inc. owned approximately 0.33% of Eagle Bancorp worth $2,100,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EGBN. LPL Financial LLC raised its position in Eagle Bancorp by 2.4% in the 4th quarter. LPL Financial LLC now owns 20,246 shares of the financial services provider's stock worth $527,000 after purchasing an additional 467 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Eagle Bancorp by 3.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,801 shares of the financial services provider's stock valued at $437,000 after acquiring an additional 488 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Eagle Bancorp by 5.7% in the 4th quarter. Quantinno Capital Management LP now owns 11,146 shares of the financial services provider's stock worth $290,000 after purchasing an additional 601 shares during the period. Ieq Capital LLC boosted its position in Eagle Bancorp by 3.3% during the 4th quarter. Ieq Capital LLC now owns 20,724 shares of the financial services provider's stock valued at $539,000 after acquiring an additional 667 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Eagle Bancorp by 353.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 775 shares during the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Eagle Bancorp Stock Performance

NASDAQ:EGBN traded down $0.34 during mid-day trading on Monday, reaching $17.23. The stock had a trading volume of 301,217 shares, compared to its average volume of 341,122. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88. The business has a 50 day simple moving average of $18.57 and a 200 day simple moving average of $22.50. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month high of $30.94. The firm has a market capitalization of $523.40 million, a price-to-earnings ratio of -10.97 and a beta of 1.03.

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 (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.40). The business had revenue of $73.86 million during the quarter, compared to analysts' expectations of $71.93 million. Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. On average, analysts expect that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were given a dividend of $0.165 per share. The ex-dividend date was Monday, May 5th. This represents a $0.66 annualized dividend and a dividend yield of 3.83%. Eagle Bancorp's dividend payout ratio is currently -44.00%.

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.