Hotchkis & Wiley Capital Management LLC Reduces Stock Position in Eagle Bancorp, Inc. $EGBN

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 stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 about 1.81% of Eagle Bancorp worth $11,522,000 at the end of the most recent reporting period.

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

Eagle Bancorp Stock Up 7.6%

Shares of NASDAQ EGBN opened at $19.15 on Friday. The firm has a market cap of $581.59 million, a P/E ratio of -18.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85. Eagle Bancorp, Inc. has a 1 year low of $15.47 and a 1 year high of $30.94. The firm's 50 day moving average price is $18.65 and its 200 day moving average price is $19.80.

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

Eagle Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on EGBN. 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. Janney Montgomery Scott raised shares of Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price target on the stock in a report on Tuesday, June 10th. 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 research note on Wednesday, August 6th. Keefe, Bruyette & Woods lowered their target price on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Finally, 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. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $21.00.

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.

Want to see what other hedge funds are holding EGBN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.