Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 28.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,803 shares of the financial services provider's stock after selling 46,263 shares during the period. Millennium Management LLC owned 0.39% of Eagle Bancorp worth $3,092,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its holdings in shares of Eagle Bancorp by 353.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock worth $26,000 after purchasing an additional 775 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Eagle Bancorp in the fourth quarter valued at approximately $51,000. Millstone Evans Group LLC purchased a new position in Eagle Bancorp during the fourth quarter worth approximately $59,000. Russell Investments Group Ltd. lifted its position in Eagle Bancorp by 42.0% during the fourth 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 in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Eagle Bancorp during the fourth quarter worth $212,000. Institutional investors and hedge funds own 78.03% of the company's stock.

Insiders Place Their Bets

In other news, CFO Eric R. Newell purchased 1,170 shares of the firm's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the completion of the purchase, the chief financial officer now directly owns 28,733 shares of the company's stock, valued at approximately $614,024.21. This trade represents a 4.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.39% of the stock is currently owned by insiders.

Eagle Bancorp Trading Down 1.1%

Eagle Bancorp stock traded down $0.19 during mid-day trading on Wednesday, hitting $17.15. The company's stock had a trading volume of 234,329 shares, compared to its average volume of 327,673. The firm has a market capitalization of $520.97 million, a PE ratio of -10.92 and a beta of 1.02. Eagle Bancorp, Inc. has a 1 year low of $15.99 and a 1 year high of $30.94. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock's fifty day moving average is $18.89 and its two-hundred day moving average is $23.14.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.40). The business had revenue of $73.86 million during the quarter, compared to analyst estimates of $71.93 million. Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. On average, analysts anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were given a $0.165 dividend. The ex-dividend date was Monday, May 5th. This represents a $0.66 dividend on an annualized basis and a yield of 3.85%. Eagle Bancorp's payout ratio is currently -44.00%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EGBN shares. Jefferies Financial Group set a $20.00 target price on Eagle Bancorp and gave the company a "hold" rating in a report on Wednesday, May 21st. Piper Sandler dropped their price objective on shares of Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a research report on Monday, April 28th.

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.