Profit Investment Management LLC Sells 23,379 Shares of Eagle Bancorp, Inc. $EGBN

Key Points

• Profit Investment Management LLC decreased its stake in Eagle Bancorp by 43.6%, selling 23,379 shares and retaining a total of 30,275 shares valued at $590,000.
• Eagle Bancorp recently reported a loss of $2.30 per share for the last quarter, significantly missing analysts' estimates of $0.40, despite reporting revenue of $74.19 million.
• The company declared a quarterly dividend of $0.165 per share, representing an annualized yield of 3.1% and a dividend payout ratio of -64.71%.

Profit Investment Management LLC trimmed its position in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 43.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,275 shares of the financial services provider's stock after selling 23,379 shares during the period. Profit Investment Management LLC owned 0.10% of Eagle Bancorp worth $590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. New York State Common Retirement Fund raised its position in Eagle Bancorp by 13.2% in 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 purchasing an additional 1,000 shares during the period. Hsbc Holdings PLC bought a new stake in Eagle Bancorp during the first quarter worth about $205,000. Aigen Investment Management LP bought a new position in shares of Eagle Bancorp in the first quarter worth approximately $209,000. Oppenheimer & Co. Inc. lifted its stake 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 worth $213,000 after buying an additional 2,000 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Eagle Bancorp in the fourth quarter worth approximately $232,000. Hedge funds and other institutional investors own 78.03% of the company's stock.

Eagle Bancorp Stock Performance

EGBN stock opened at $21.17 on Friday. The company has a market capitalization of $642.93 million, a P/E ratio of -20.75 and a beta of 1.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average price of $18.94 and a 200 day moving average price of $19.19. Eagle Bancorp, Inc. has a 1-year low of $15.47 and a 1-year high of $30.94.

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). The business had revenue of $74.19 million for the quarter, compared to analysts' expectations of $73.03 million. Eagle Bancorp had a negative return on equity of 2.54% and a negative net margin of 4.60%. As a group, equities research analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 8th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, August 8th. Eagle Bancorp's dividend payout ratio is currently -64.71%.

Analysts Set New Price Targets

Several research firms have recently weighed in on EGBN. Janney Montgomery Scott raised shares of Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective for the company in a report on Tuesday, June 10th. Wall Street Zen cut shares of Eagle Bancorp from a "hold" rating to a "strong sell" rating in a report on Saturday, July 26th. Finally, Piper Sandler decreased their price objective on shares of Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $21.00.

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.

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