Eagle Bancorp, Inc. $EGBN Stock Holdings Lessened by Profit Investment Management LLC

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 lessened its position in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 43.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,275 shares of the financial services provider's stock after selling 23,379 shares during the period. Profit Investment Management LLC owned about 0.10% of Eagle Bancorp worth $590,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Eagle Bancorp by 3.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,801 shares of the financial services provider's stock valued at $437,000 after buying an additional 488 shares during the last quarter. Quantinno Capital Management LP increased its position in Eagle Bancorp by 5.7% during the fourth quarter. Quantinno Capital Management LP now owns 11,146 shares of the financial services provider's stock worth $290,000 after purchasing an additional 601 shares during the last quarter. CWM LLC increased its position in Eagle Bancorp by 5.5% during the first quarter. CWM LLC now owns 15,287 shares of the financial services provider's stock worth $321,000 after purchasing an additional 802 shares during the last quarter. Inspire Investing LLC increased its position in Eagle Bancorp by 5.6% during the first quarter. Inspire Investing LLC now owns 16,339 shares of the financial services provider's stock worth $343,000 after purchasing an additional 860 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in 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 worth $180,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company's stock.

Analyst Upgrades and Downgrades

EGBN has been the subject of several research analyst reports. Wall Street Zen lowered shares of Eagle Bancorp from a "hold" rating to a "strong sell" rating in a research report 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 objective for the company in a research report on Tuesday, June 10th. Finally, 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 report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $21.00.

Eagle Bancorp Stock Up 0.0%

EGBN stock traded up $0.01 during mid-day trading on Tuesday, hitting $21.11. 205,797 shares of the company were exchanged, compared to its average volume of 421,980. The company has a market capitalization of $641.08 million, a PE ratio of -20.69 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06. Eagle Bancorp, Inc. has a twelve month low of $15.47 and a twelve month high of $30.94. The firm has a fifty day simple moving average of $18.93 and a 200 day simple moving average of $19.17.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $74.19 million for the quarter, compared to analyst estimates of $73.03 million. Eagle Bancorp had a negative return on equity of 2.54% and a negative net margin of 4.60%. On average, research analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 8th were issued a dividend of $0.165 per share. 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 (DPR) is currently -64.71%.

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.