10,262 Shares in Eagle Bancorp, Inc. $EGBN Bought by Savant Capital LLC

Savant Capital LLC bought a new position in Eagle Bancorp, Inc. (NASDAQ:EGBN) in the second quarter, HoldingsChannel reports. The fund bought 10,262 shares of the financial services provider’s stock, valued at approximately $200,000.

A number of other hedge funds have also recently made changes to their positions in EGBN. Atlantic Union Bankshares Corp bought a new stake in shares of Eagle Bancorp during the second quarter worth about $70,000. Huntington National Bank boosted its position in Eagle Bancorp by 1,307.8% during the 2nd quarter. Huntington National Bank now owns 5,406 shares of the financial services provider’s stock worth $105,000 after buying an additional 5,022 shares during the period. New York State Common Retirement Fund grew its holdings in 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 last quarter. Hsbc Holdings PLC bought a new stake in Eagle Bancorp during the 1st quarter worth approximately $205,000. Finally, Aigen Investment Management LP acquired a new position in Eagle Bancorp in the 1st quarter valued at approximately $209,000. 78.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EGBN has been the topic of several analyst reports. Zacks Research cut shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Wall Street Zen downgraded Eagle Bancorp from a “hold” rating to a “strong sell” rating in a report on Saturday, July 26th. Piper Sandler reduced their price target on Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $21.25.

Eagle Bancorp Price Performance

EGBN stock opened at $17.08 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm has a market cap of $518.74 million, a price-to-earnings ratio of -4.31 and a beta of 1.17. The company’s fifty day simple moving average is $18.92 and its 200 day simple moving average is $18.71. Eagle Bancorp, Inc. has a 12-month low of $15.03 and a 12-month high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Monday, September 11th. The financial services provider reported $1.20 earnings per share 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%. On average, analysts expect that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Cuts Dividend

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

Insider Transactions at Eagle Bancorp

In other Eagle Bancorp news, CFO Eric R. Newell purchased 3,050 shares of the company’s stock in a transaction on Friday, November 14th. The shares were purchased at an average cost of $16.55 per share, with a total value of $50,477.50. Following the completion of the purchase, the chief financial officer owned 33,615 shares in the company, valued at $556,328.25. This represents a 9.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.39% of the company’s stock.

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.