SummerHaven Investment Management LLC Invests $806,000 in Eagle Bancorp, Inc. $EGBN

SummerHaven Investment Management LLC purchased a new stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,839 shares of the financial services provider’s stock, valued at approximately $806,000.

Several other institutional investors have also recently bought and sold shares of the stock. MAI Capital Management boosted its position in Eagle Bancorp by 24.2% in the 2nd quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock valued at $67,000 after buying an additional 671 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Eagle Bancorp by 102.2% during the third quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 753 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Eagle Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 780 shares during the period. State of Alaska Department of Revenue boosted its holdings in Eagle Bancorp by 8.0% in the second quarter. State of Alaska Department of Revenue now owns 18,074 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 1,339 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new stake in Eagle Bancorp in the third quarter worth about $34,000. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Stock Performance

Shares of NASDAQ:EGBN opened at $25.84 on Thursday. The company has a market capitalization of $784.76 million, a price-to-earnings ratio of -6.14 and a beta of 1.02. The firm’s 50 day simple moving average is $21.56 and its 200 day simple moving average is $19.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86. Eagle Bancorp, Inc. has a fifty-two week low of $15.03 and a fifty-two week high of $29.26.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.37. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.91%. The firm had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $67.81 million. As a group, sell-side analysts forecast 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, February 13th. Stockholders of record on Monday, February 2nd will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Eagle Bancorp’s payout ratio is -0.95%.

Analysts Set New Price Targets

Several brokerages have weighed in on EGBN. Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, January 21st. UBS Group set a $25.00 price target on shares of Eagle Bancorp in a research note on Tuesday. Piper Sandler cut their price objective on shares of Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Finally, Zacks Research raised shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.00.

Insiders Place Their Bets

In other Eagle Bancorp news, CFO Eric R. Newell acquired 3,050 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average price of $16.55 per share, with a total value of $50,477.50. Following the purchase, the chief financial officer owned 33,615 shares of the company’s stock, valued at $556,328.25. This represents a 9.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Louis P. Jr. Mathews bought 1,500 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was acquired at an average cost 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. This trade represents a 17.33% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 6,050 shares of company stock valued at $101,538. 3.10% of the stock is owned by corporate insiders.

Eagle Bancorp Profile

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.