Eagle Bancorp (NASDAQ:EGBN) Shares Up 7.4% on Earnings Beat

Eagle Bancorp, Inc. (NASDAQ:EGBN) shares were up 7.4% during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $24.00 and last traded at $24.1690. Approximately 53,766 shares traded hands during trading, a decline of 81% from the average daily volume of 276,123 shares. The stock had previously closed at $22.50.

The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.37. The company had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $67.81 million. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.81%.

Eagle Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 2nd will be issued a $0.01 dividend. The ex-dividend date is Monday, February 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. Eagle Bancorp’s dividend payout ratio (DPR) is -1.01%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EGBN shares. Piper Sandler lowered their price target on shares of Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Zacks Research upgraded shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Eagle Bancorp currently has an average rating of “Hold” and an average target price of $21.25.

Insider Activity

In related news, Director Louis P. Jr. Mathews purchased 1,500 shares of the business’s stock in a transaction on Friday, November 21st. The shares were purchased at an average price 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 in the company, valued at $174,700.40. This represents a 17.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Eric R. Newell purchased 3,050 shares of the business’s stock in a transaction on Friday, November 14th. The shares were acquired at an average cost of $16.55 per share, for a total transaction of $50,477.50. Following the completion of the transaction, the chief financial officer directly owned 33,615 shares in the company, valued at approximately $556,328.25. This represents a 9.98% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 6,050 shares of company stock worth $101,538. 3.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eagle Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in EGBN. Farther Finance Advisors LLC raised its stake in shares of Eagle Bancorp by 128.6% during the fourth 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 during the last quarter. Sippican Capital Advisors boosted its holdings in Eagle Bancorp by 161.3% during the 4th quarter. Sippican Capital Advisors now owns 98,680 shares of the financial services provider’s stock worth $2,114,000 after acquiring an additional 60,920 shares during the last quarter. Choreo LLC lifted its holdings in Eagle Bancorp by 3.5% during the fourth quarter. Choreo LLC now owns 36,418 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 1,220 shares during the period. SG Americas Securities LLC raised its position in Eagle Bancorp by 48.9% in the fourth quarter. SG Americas Securities LLC now owns 30,384 shares of the financial services provider’s stock worth $651,000 after acquiring an additional 9,976 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Eagle Bancorp by 204.0% during the 4th quarter. GAMMA Investing LLC now owns 6,590 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 4,422 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bancorp Price Performance

The firm has a market capitalization of $816.65 million, a PE ratio of -6.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.84 and a current ratio of 0.86. The business’s 50 day moving average is $20.78 and its two-hundred day moving average is $19.65.

Eagle Bancorp Company 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.