Wellington Management Group LLP Has $35.01 Million Stock Holdings in Eagle Bancorp, Inc. $EGBN

Key Points

• Wellington Management increased its Eagle Bancorp stake by 5.9% in the second quarter, holding 1.23 million shares worth approximately $35.01 million, or 4.05% of the company. Institutional investors collectively own 78.03% of EGBN.
• Eagle Bancorp reported quarterly earnings of $0.23 per share, below the $0.34 analyst consensus, while revenue of $73.11 million also missed estimates. The company posted negative net margin and return on equity.
• The stock was trading near its 12-month high at $28.18, while analysts maintained an overall “Hold” rating with an average price target of $29.00; the company also paid a quarterly dividend of $0.01 per share.

Wellington Management Group LLP raised its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,233,336 shares of the financial services provider's stock after purchasing an additional 68,314 shares during the period. Wellington Management Group LLP owned 4.05% of Eagle Bancorp worth $35,014,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Stone Point Capital LLC acquired a new position in Eagle Bancorp in the 2nd quarter valued at about $21,660,548,000. Hilton Head Capital Partners LLC bought a new stake in shares of Eagle Bancorp during the fourth quarter worth approximately $394,000. Hsbc Holdings PLC acquired a new position in shares of Eagle Bancorp in the fourth quarter valued at approximately $535,000. Quantinno Capital Management LP grew its position in shares of Eagle Bancorp by 15.2% in the first quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider's stock valued at $4,673,000 after purchasing an additional 24,842 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Eagle Bancorp by 20.5% during the fourth quarter. UBS Group AG now owns 274,950 shares of the financial services provider's stock worth $5,889,000 after purchasing an additional 46,777 shares during the period. Institutional investors and hedge funds own 78.03% of the company's stock.

Eagle Bancorp Trading Up 1.5%

Shares of Eagle Bancorp stock opened at $28.18 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.07. Eagle Bancorp, Inc. has a 12-month low of $15.03 and a 12-month high of $29.29. The company has a market capitalization of $858.93 million, a price-to-earnings ratio of -22.37 and a beta of 0.96. The firm's 50-day moving average price is $27.74 and its two-hundred day moving average price is $26.73.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.11). The firm had revenue of $73.11 million for the quarter, compared to the consensus estimate of $74.41 million. Eagle Bancorp had a negative return on equity of 3.37% and a negative net margin of 6.43%. On average, analysts forecast that Eagle Bancorp, Inc. will post 1.52 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Thursday, August 6th were paid a $0.01 dividend. The ex-dividend date was Thursday, August 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. Eagle Bancorp's dividend payout ratio (DPR) is presently -3.17%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EGBN. Weiss Ratings restated a "sell (d-)" rating on shares of Eagle Bancorp in a research note on Wednesday. Piper Sandler lifted their target price on Eagle Bancorp from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Finally, Zacks Research upgraded Eagle Bancorp from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $29.00.

About Eagle Bancorp

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company's product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.

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