Eagle Bancorp, Inc. (NASDAQ:EGBN) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) have received a consensus recommendation of “Reduce” from the six research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $21.25.

A number of research firms have commented on EGBN. Zacks Research cut Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Piper Sandler decreased their price objective on shares of Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, October 8th.

Eagle Bancorp Price Performance

Shares of EGBN opened at $18.90 on Friday. The company has a 50 day moving average of $18.76 and a two-hundred day moving average of $18.72. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. Eagle Bancorp has a twelve month low of $15.03 and a twelve month high of $30.18. The company has a market cap of $574.01 million, a price-to-earnings ratio of -4.77 and a beta of 1.17.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Monday, September 11th. The financial services provider reported $1.20 EPS for the quarter. The firm had revenue of $88.48 million during the quarter. Eagle Bancorp had a negative return on equity of 10.07% and a negative net margin of 18.65%. As a group, analysts predict that Eagle Bancorp will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Eagle Bancorp’s payout ratio is -1.01%.

Insider Buying and Selling at Eagle Bancorp

In other news, CFO Eric R. Newell acquired 3,050 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average cost of $16.55 per share, with a total value of $50,477.50. Following the completion of the acquisition, the chief financial officer owned 33,615 shares of the company’s stock, valued at approximately $556,328.25. This trade represents a 9.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Louis P. Jr. Mathews acquired 1,500 shares of Eagle Bancorp stock in a transaction dated Friday, November 21st. The stock was purchased at an average price of $17.20 per share, with a total value of $25,800.00. Following the completion of the purchase, the director owned 10,157 shares of the company’s stock, valued at approximately $174,700.40. The trade was a 17.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 6,050 shares of company stock worth $101,538. 3.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Eagle Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caxton Associates LLP lifted its stake in Eagle Bancorp by 69.8% during the 3rd quarter. Caxton Associates LLP now owns 67,285 shares of the financial services provider’s stock valued at $1,361,000 after acquiring an additional 27,655 shares during the period. Verition Fund Management LLC raised its holdings in shares of Eagle Bancorp by 50.3% during the third quarter. Verition Fund Management LLC now owns 81,057 shares of the financial services provider’s stock worth $1,639,000 after purchasing an additional 27,135 shares during the last quarter. North Reef Capital Management LP lifted its position in Eagle Bancorp by 558.2% during the third quarter. North Reef Capital Management LP now owns 2,632,918 shares of the financial services provider’s stock valued at $53,238,000 after purchasing an additional 2,232,918 shares during the period. Mariner LLC boosted its holdings in Eagle Bancorp by 216.3% in the third quarter. Mariner LLC now owns 53,360 shares of the financial services provider’s stock valued at $1,079,000 after purchasing an additional 36,489 shares during the last quarter. Finally, Millennium Management LLC grew its position in Eagle Bancorp by 135.6% during the 3rd quarter. Millennium Management LLC now owns 444,631 shares of the financial services provider’s stock worth $8,990,000 after purchasing an additional 255,932 shares during the period. Institutional investors and hedge funds own 78.03% of the company’s stock.

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.