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

North Reef Capital Management LP reduced its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 8.0% during the first quarter, Holdings Channel.com reports. The fund owned 2,706,025 shares of the financial services provider’s stock after selling 233,975 shares during the quarter. Eagle Bancorp accounts for 2.3% of North Reef Capital Management LP’s investment portfolio, making the stock its 14th largest holding. North Reef Capital Management LP owned about 0.09% of Eagle Bancorp worth $67,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Eagle Bancorp by 128.6% in the 4th quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 782 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of Eagle Bancorp during the first quarter worth about $37,000. Tower Research Capital LLC TRC increased its position in shares of Eagle Bancorp by 113.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 2,172 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Eagle Bancorp in the second quarter worth approximately $99,000. Finally, Fifth Third Bancorp raised its stake in Eagle Bancorp by 10,807.4% in the first quarter. Fifth Third Bancorp now owns 5,890 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 5,836 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Friday, June 5th. Zacks Research lowered shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Piper Sandler raised their price objective on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Finally, Raymond James Financial assumed coverage on shares of Eagle Bancorp in a research report on Tuesday, April 14th. They set a “strong-buy” rating and a $32.00 price objective on the stock. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.00.

Eagle Bancorp Price Performance

Shares of Eagle Bancorp stock opened at $28.44 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $867.42 million, a PE ratio of -22.57 and a beta of 0.96. The business’s 50-day moving average price is $27.28 and its 200-day moving average price is $26.07. Eagle Bancorp, Inc. has a 12 month low of $15.03 and a 12 month high of $29.29.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts forecast that Eagle Bancorp, Inc. will post 1.79 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

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

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.