Eagle Bancorp, Inc. $EGBN Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Eagle Bancorp, Inc. by 12.4%, now owning approximately $8.07 million worth of shares.
• Eagle Bancorp reported a quarterly loss of ($2.30) EPS, missing analysts' expectations, despite revenues exceeding estimates.
• The company recently declared a quarterly dividend of $0.165 per share, with a dividend yield of 3.4% and a negative payout ratio.

Invesco Ltd. lowered its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 384,402 shares of the financial services provider's stock after selling 54,285 shares during the period. Invesco Ltd. owned about 1.27% of Eagle Bancorp worth $8,072,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EGBN. New York State Common Retirement Fund increased its stake in shares of Eagle Bancorp by 13.2% during the first quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider's stock valued at $180,000 after buying an additional 1,000 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Eagle Bancorp by 24.6% during the first quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider's stock valued at $213,000 after buying an additional 2,000 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Eagle Bancorp during the fourth quarter valued at $220,000. Focus Partners Wealth purchased a new position in shares of Eagle Bancorp during the fourth quarter valued at $224,000. Finally, ProShare Advisors LLC purchased a new position in shares of Eagle Bancorp during the fourth quarter valued at $232,000. Hedge funds and other institutional investors own 78.03% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on EGBN. Jefferies Financial Group set a $20.00 price target on Eagle Bancorp and gave the company a "hold" rating in a research note on Wednesday, May 21st. Piper Sandler cut their target price 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. Janney Montgomery Scott upgraded Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price on the stock in a research note on Tuesday, June 10th. Finally, Wall Street Zen lowered Eagle Bancorp from a "hold" rating to a "strong sell" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $21.00.

Eagle Bancorp Stock Up 0.9%

EGBN traded up $0.17 on Friday, hitting $19.42. The company had a trading volume of 322,643 shares, compared to its average volume of 563,438. The stock has a fifty day moving average price of $18.89 and a 200-day moving average price of $19.52. Eagle Bancorp, Inc. has a 12-month low of $15.47 and a 12-month high of $30.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $589.79 million, a price-to-earnings ratio of -19.04 and a beta of 1.14.

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 analysts' consensus estimates of $0.40 by ($2.70). Eagle Bancorp had a negative return on equity of 2.54% and a negative net margin of 4.60%.The business had revenue of $74.19 million for the quarter, compared to analysts' expectations of $73.03 million. Analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 8th were paid a dividend of $0.165 per share. The ex-dividend date was Friday, August 8th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.4%. Eagle Bancorp's payout ratio is presently -64.71%.

About Eagle Bancorp

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.