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. lessened its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 12.4% during the 1st quarter, according to its most recent filing 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 quarter. Invesco Ltd. owned about 1.27% of Eagle Bancorp worth $8,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund grew its holdings in shares of Eagle Bancorp by 13.2% in 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 purchasing an additional 1,000 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Eagle Bancorp by 24.6% in the first quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider's stock valued at $213,000 after purchasing an additional 2,000 shares in the last quarter. Graham Capital Management L.P. purchased a new position in shares of Eagle Bancorp in the fourth quarter valued at $220,000. Focus Partners Wealth purchased a new position in shares of Eagle Bancorp in the fourth quarter valued at $224,000. Finally, ProShare Advisors LLC bought a new position in shares of Eagle Bancorp during the 4th quarter valued at approximately $232,000. 78.03% of the stock is owned by hedge funds and other institutional investors.

Eagle Bancorp Stock Up 0.9%

Shares of NASDAQ EGBN traded up $0.17 during mid-day trading on Friday, reaching $19.42. 322,643 shares of the company were exchanged, compared to its average volume of 595,499. 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 stock has a market cap of $589.79 million, a price-to-earnings ratio of -19.04 and a beta of 1.07. Eagle Bancorp, Inc. has a 1 year low of $15.47 and a 1 year high of $30.94. The firm has a 50-day moving average of $18.89 and a 200 day moving average of $19.60.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly 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). 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 analysts' expectations of $73.03 million. On average, research analysts expect that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

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