Public Sector Pension Investment Board Grows Holdings in Eagle Bancorp, Inc. $EGBN

Key Points

• The Public Sector Pension Investment Board increased its holdings in Eagle Bancorp, Inc. by 26.8% in Q1, owning 95,800 shares valued at approximately $2 million.
• Eagle Bancorp reported a loss of ($2.30) earnings per share for the last quarter, significantly missing the consensus estimate of $0.40.
• The company announced a quarterly dividend of $0.165 per share, reflecting a yield of 3.6%, with a dividend payout ratio currently at -64.71%.

Public Sector Pension Investment Board grew its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 26.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,800 shares of the financial services provider's stock after buying an additional 20,233 shares during the quarter. Public Sector Pension Investment Board owned 0.32% of Eagle Bancorp worth $2,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in EGBN. Russell Investments Group Ltd. boosted its stake in shares of Eagle Bancorp by 42.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock valued at $82,000 after buying an additional 933 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Eagle Bancorp by 13.2% during the 1st quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider's stock valued at $180,000 after acquiring an additional 1,000 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Eagle Bancorp during the 1st quarter valued at approximately $209,000. Oppenheimer & Co. Inc. raised its position in shares of Eagle Bancorp by 24.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider's stock valued at $213,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in shares of Eagle Bancorp during the 4th quarter valued at approximately $220,000. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Bancorp Price Performance

Shares of NASDAQ EGBN opened at $18.24 on Thursday. Eagle Bancorp, Inc. has a 1-year low of $15.47 and a 1-year high of $30.94. 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's fifty day moving average price is $18.63 and its two-hundred day moving average price is $19.94. The firm has a market capitalization of $553.95 million, a PE ratio of -17.88 and a beta of 1.07.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its earnings results 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). Eagle Bancorp had a negative return on equity of 2.54% and a negative net margin of 4.60%.The company had revenue of $74.19 million during the quarter, compared to analyst estimates of $73.03 million. On average, research analysts expect 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 will be paid on Friday, August 29th. Shareholders of record on Friday, August 8th will be given a $0.165 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.66 annualized dividend and a yield of 3.6%. Eagle Bancorp's dividend payout ratio (DPR) is currently -64.71%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Janney Montgomery Scott raised Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price target on the stock in a research report on Tuesday, June 10th. Keefe, Bruyette & Woods dropped their price target on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Jefferies Financial Group set a $20.00 price target on Eagle Bancorp and gave the company a "hold" rating in a research report on Wednesday, May 21st. Piper Sandler dropped their price target on Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered Eagle Bancorp from a "hold" rating to a "strong sell" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $21.00.

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.

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