North Reef Capital Management LP Decreases Stake in Eagle Bancorp, Inc. $EGBN

North Reef Capital Management LP reduced its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 8.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,706,025 shares of the financial services provider’s stock after selling 233,975 shares during the period. Eagle Bancorp accounts for approximately 2.3% of North Reef Capital Management LP’s portfolio, making the stock its 14th largest holding. North Reef Capital Management LP owned approximately 8.87% of Eagle Bancorp worth $67,299,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EGBN. Wellington Management Group LLP increased its stake in shares of Eagle Bancorp by 77.7% in the fourth quarter. Wellington Management Group LLP now owns 1,082,382 shares of the financial services provider’s stock worth $23,185,000 after purchasing an additional 473,361 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Eagle Bancorp by 13.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,010,336 shares of the financial services provider’s stock valued at $21,642,000 after buying an additional 117,156 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Eagle Bancorp by 5.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 644,957 shares of the financial services provider’s stock valued at $13,041,000 after buying an additional 32,787 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Eagle Bancorp by 20.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 612,655 shares of the financial services provider’s stock worth $13,123,000 after buying an additional 105,702 shares during the period. Finally, Millennium Management LLC boosted its holdings in Eagle Bancorp by 135.6% in the 3rd quarter. Millennium Management LLC now owns 444,631 shares of the financial services provider’s stock worth $8,990,000 after buying an additional 255,932 shares during the period. 78.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on EGBN. Raymond James Financial initiated coverage on shares of Eagle Bancorp in a research note on Tuesday, April 14th. They issued a “strong-buy” rating and a $32.00 price objective for the company. Piper Sandler raised their price target on Eagle Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Zacks Research cut Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Eagle Bancorp has a consensus rating of “Hold” and a consensus price target of $29.00.

Eagle Bancorp Trading Up 3.0%

Shares of Eagle Bancorp stock opened at $28.44 on Friday. The company’s 50-day moving average price is $27.28 and its 200-day moving average price is $26.07. The company has a current ratio of 0.87, a quick ratio of 0.86 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 cap of $867.42 million, a price-to-earnings ratio of -22.57 and a beta of 0.96.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.11). The firm had revenue of $73.11 million for the quarter, compared to analysts’ expectations of $74.41 million. Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. On average, equities analysts expect that Eagle Bancorp, Inc. will post 1.79 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Thursday, August 6th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, August 6th. Eagle Bancorp’s dividend payout ratio (DPR) is presently -3.17%.

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.