Readystate Asset Management LP Buys New Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Readystate Asset Management LP purchased a new stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,716 shares of the financial services provider's stock, valued at approximately $498,000. Readystate Asset Management LP owned 0.08% of Eagle Bancorp as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. raised its position in shares of 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 purchasing an additional 933 shares during the period. Graham Capital Management L.P. bought a new position in Eagle Bancorp in the fourth quarter valued at approximately $220,000. New York State Common Retirement Fund boosted its stake 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 worth $180,000 after acquiring an additional 1,000 shares during the period. Focus Partners Wealth bought a new position in shares of Eagle Bancorp during the 4th quarter worth approximately $224,000. Finally, ProShare Advisors LLC bought a new position in shares of Eagle Bancorp during the 4th quarter worth approximately $232,000. Institutional investors and hedge funds own 78.03% of the company's stock.

Eagle Bancorp Trading Down 21.2%

Shares of NASDAQ EGBN traded down $4.56 during trading on Thursday, reaching $16.93. The company had a trading volume of 2,032,033 shares, compared to its average volume of 432,399. The company's fifty day moving average price is $18.94 and its 200-day moving average price is $21.05. Eagle Bancorp, Inc. has a 12 month low of $16.58 and a 12 month high of $30.94. The stock has a market cap of $514.33 million, a P/E ratio of -16.60 and a beta of 1.05. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last announced its 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). Eagle Bancorp had a negative net margin of 4.60% and a negative return on equity of 2.52%. The business had revenue of $74.19 million for the quarter, compared to the consensus estimate of $73.03 million. As a group, research analysts expect 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. Investors of record on Friday, August 8th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Friday, August 8th. Eagle Bancorp's dividend payout ratio (DPR) is currently -44.00%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their price target on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Jefferies Financial Group set a $20.00 price target on Eagle Bancorp and gave the stock a "hold" rating in a report on Wednesday, May 21st. Janney Montgomery Scott upgraded Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price objective on the stock in a research report on Tuesday, June 10th. Piper Sandler reduced their price objective on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded Eagle Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.75.

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.