Eagle Bancorp, Inc. $EGBN Stake Cut by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in Eagle Bancorp, Inc. by 3.8%, selling 21,750 shares, and now holds 548,680 shares valued at approximately $11.52 million.
• Eagle Bancorp's shares experienced a 7.6% increase recently, with the stock valued at $19.15, following a disappointing earnings report that showed a loss of $2.30 per share.
• The company announced a quarterly dividend of $0.165 per share, providing an annualized yield of 3.4%, with an ex-dividend date set for August 8th.

Hotchkis & Wiley Capital Management LLC trimmed its position in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 548,680 shares of the financial services provider's stock after selling 21,750 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 1.81% of Eagle Bancorp worth $11,522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EGBN. Russell Investments Group Ltd. raised its position 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 acquiring an additional 933 shares in the last quarter. First Trust Advisors LP raised its position in Eagle Bancorp by 15.3% in the fourth quarter. First Trust Advisors LP now owns 31,842 shares of the financial services provider's stock worth $829,000 after acquiring an additional 4,231 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Eagle Bancorp by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider's stock worth $40,919,000 after acquiring an additional 63,702 shares in the last quarter. State of Tennessee Department of Treasury raised its position in Eagle Bancorp by 125.3% in the fourth quarter. State of Tennessee Department of Treasury now owns 18,095 shares of the financial services provider's stock worth $471,000 after acquiring an additional 10,062 shares in the last quarter. Finally, Aquatic Capital Management LLC boosted its position in Eagle Bancorp by 432.3% during the fourth quarter. Aquatic Capital Management LLC now owns 10,646 shares of the financial services provider's stock worth $277,000 after purchasing an additional 8,646 shares in the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EGBN shares. Jefferies Financial Group set a $20.00 price target on Eagle Bancorp and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Janney Montgomery Scott raised Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price target on the stock in a research note on Tuesday, June 10th. Wall Street Zen lowered Eagle Bancorp from a "hold" rating to a "strong sell" rating in a research note on Saturday, July 26th. Finally, Piper Sandler reduced their price target on Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Eagle Bancorp currently has an average rating of "Hold" and a consensus price target of $21.00.

Eagle Bancorp Trading Up 1.2%

Shares of EGBN stock traded up $0.24 during mid-day trading on Friday, reaching $19.49. The company's stock had a trading volume of 55,518 shares, compared to its average volume of 412,286. The company's 50 day simple moving average is $18.84 and its 200-day simple moving average is $19.65. Eagle Bancorp, Inc. has a 12-month low of $15.47 and a 12-month high of $30.94. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $591.76 million, a PE ratio of -19.10 and a beta of 1.07.

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 analysts' consensus estimates of $0.40 by ($2.70). The business had revenue of $74.19 million during the quarter, compared to analysts' expectations 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 predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

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

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.