Royce & Associates LP reduced its stake in Eagle Bancorp, Inc. (NASDAQ: EGBN – Get a rating) by 11.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund held 15,025 shares of the financial services provider after selling 1,851 shares during the period. Royce & Associates LP’s holdings in Eagle Bancorp were worth $857,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added or reduced their stakes in the company. Pinebridge Investments LP purchased a new stake in shares of Eagle Bancorp in Q4 for approximately $76,000. Inspire Investing LLC acquired a new position in shares of Eagle Bancorp in the first quarter worth approximately $236,000. Mutual of America Capital Management LLC increased its holdings of Eagle Bancorp shares by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 4,603 shares of the financial services provider valued at $262,000 after buying 238 additional shares last quarter. Bellecapital International Ltd. acquired a new position in shares of Eagle Bancorp in the first quarter valued at approximately $280,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Eagle Bancorp in the first quarter valued at approximately $343,000. 73.83% of the shares are currently held by hedge funds and other institutional investors.
Eagle Bancorp trades up 0.1%
Shares of EGBN Stock opened at $47.72 on Friday. The company has a debt ratio of 0.06, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $1.53 billion, a P/E ratio of 9.82 and a beta of 0.94. The company has a 50-day moving average price of $47.52 and a 200-day moving average price of $53.07. Eagle Bancorp, Inc. has a fifty-two week low of $44.85 and a fifty-two week high of $63.84.
Eagle Bancorp (NASDAQ: EGBN – Get a rating) last released its quarterly results on Wednesday, July 20. The financial services provider reported EPS of $0.78 for the quarter, missing the consensus estimate of $1.15 per ($0.37). Eagle Bancorp had a return on equity of 12.98% and a net margin of 39.92%. The company posted revenue of $88.48 million for the quarter, versus analyst estimates of $91.00 million. In the same quarter last year, the company achieved EPS of $1.50. Equity research analysts expect Eagle Bancorp, Inc. to post EPS of 4.5 for the current fiscal year.
Eagle Bancorp increases its dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 29. Shareholders of record on Monday, July 11 received a dividend of $0.45 per share. This represents an annualized dividend of $1.80 and a yield of 3.77%. The ex-dividend date was Friday, July 8. This is a boost from Eagle Bancorp’s previous quarterly dividend of $0.40. Eagle Bancorp’s payout ratio is 37.04%.
Analyst upgrades and downgrades
Separately, StockNews.com cut shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Friday, July 22.
About Eagle Bancorp
Eagle Bancorp, Inc operates as a bank holding company for EagleBank which provides commercial and consumer banking services primarily in the United States. The Company also offers various consumer and commercial loan products including commercial loans for working capital, equipment purchase, home equity lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as car and personal loans; personal credit cards; and residential mortgages.
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