Eagle Bancorp, Inc. $EGBN Shares Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has increased its stake in Eagle Bancorp, Inc. by 322.7%, owning 53,370 shares valued at approximately $1.12 million as of the end of the first quarter.
• Following multiple institutional investment changes, 78.03% of Eagle Bancorp's stock is now owned by institutional investors.
• Eagle Bancorp recently announced a $0.165 quarterly dividend, representing a 3.4% yield, with a negative payout ratio of -64.71%.

Quantbot Technologies LP lifted its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 322.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,370 shares of the financial services provider's stock after purchasing an additional 40,744 shares during the quarter. Quantbot Technologies LP owned 0.18% of Eagle Bancorp worth $1,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its position in Eagle Bancorp by 42.0% in the fourth quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 933 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of 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 valued at $180,000 after buying an additional 1,000 shares during the last quarter. Aigen Investment Management LP purchased a new position in Eagle Bancorp in the first quarter worth about $209,000. Oppenheimer & Co. Inc. boosted its position in 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 purchasing an additional 2,000 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new position in shares of Eagle Bancorp in the fourth quarter worth about $220,000. Institutional investors own 78.03% of the company's stock.

Analyst Ratings Changes

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

Eagle Bancorp Price Performance

Shares of NASDAQ:EGBN traded up $0.17 during midday trading on Friday, hitting $19.42. The company had a trading volume of 322,643 shares, compared to its average volume of 595,499. Eagle Bancorp, Inc. has a twelve month low of $15.47 and a twelve month 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 stock has a market cap of $589.79 million, a price-to-earnings ratio of -19.04 and a beta of 1.07. The business's 50-day simple moving average is $18.89 and its 200-day simple moving average is $19.60.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported ($2.30) EPS for the quarter, missing the consensus estimate of $0.40 by ($2.70). The company had revenue of $74.19 million during the quarter, compared to analyst estimates of $73.03 million. Eagle Bancorp had a negative net margin of 4.60% and a negative return on equity of 2.54%. On average, research analysts predict that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 8th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, August 8th. Eagle Bancorp's dividend payout ratio (DPR) is currently -64.71%.

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.