Goldman Sachs Group Inc. Sells 25,573 Shares of Eagle Bancorp, Inc. $EGBN

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Eagle Bancorp, Inc. by 9.9%, now holding 231,695 shares worth approximately $4.87 million.
• Eagle Bancorp reported a significant earnings miss with an EPS of ($2.30), far below analysts' expectations of $0.40, leading to a negative net margin of -4.60%.
• The company announced a quarterly dividend of $0.165, representing an annualized yield of 3.2%, despite a negative dividend payout ratio of -64.71%.

Goldman Sachs Group Inc. trimmed its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 9.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 231,695 shares of the financial services provider's stock after selling 25,573 shares during the quarter. Goldman Sachs Group Inc. owned 0.76% of Eagle Bancorp worth $4,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Eagle Bancorp by 2.2% during the first quarter. Vanguard Group Inc. now owns 2,748,105 shares of the financial services provider's stock valued at $57,710,000 after purchasing an additional 58,682 shares in the last quarter. American Century Companies Inc. boosted its holdings in Eagle Bancorp by 6.7% during the first quarter. American Century Companies Inc. now owns 691,789 shares of the financial services provider's stock valued at $14,528,000 after purchasing an additional 43,597 shares in the last quarter. BlackBarn Capital Partners LP bought a new position in shares of Eagle Bancorp in the first quarter valued at approximately $7,980,000. Charles Schwab Investment Management Inc. raised its stake in shares of Eagle Bancorp by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 368,919 shares of the financial services provider's stock valued at $7,747,000 after acquiring an additional 14,074 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Eagle Bancorp in the first quarter valued at approximately $7,275,000. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Trading Down 1.2%

Shares of Eagle Bancorp stock traded down $0.25 on Friday, hitting $21.17. 1,649,776 shares of the company's stock traded hands, compared to its average volume of 418,885. The firm's 50-day moving average price is $18.94 and its two-hundred day moving average price is $19.21. The stock has a market capitalization of $642.93 million, a PE ratio of -20.75 and a beta of 1.14. Eagle Bancorp, Inc. has a one year low of $15.47 and a one year 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.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its 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 business had revenue of $74.19 million for the quarter, compared to the consensus estimate of $73.03 million. Eagle Bancorp had a negative net margin of 4.60% and a negative return on equity of 2.54%. On average, research analysts expect that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 8th were given a $0.165 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.1%. Eagle Bancorp's dividend payout ratio is currently -64.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EGBN shares. Janney Montgomery Scott upgraded shares of Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Tuesday, June 10th. Wall Street Zen cut shares of Eagle Bancorp from a "hold" rating to a "strong sell" rating in a research note on Saturday, July 26th. Finally, Piper Sandler cut their target price 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. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $21.00.

Eagle Bancorp 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.