Hennessy Advisors Inc. Has $2.73 Million Position in Eagle Bancorp, Inc. $EGBN

Hennessy Advisors Inc. raised its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 40.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 140,000 shares of the financial services provider’s stock after purchasing an additional 40,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.46% of Eagle Bancorp worth $2,727,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Eagle Bancorp by 2.2% in the first quarter. Vanguard Group Inc. now owns 2,748,105 shares of the financial services provider’s stock valued at $57,710,000 after purchasing an additional 58,682 shares in the last quarter. American Century Companies Inc. increased its stake in Eagle Bancorp by 6.7% in the first quarter. American Century Companies Inc. now owns 691,789 shares of the financial services provider’s stock valued at $14,528,000 after purchasing an additional 43,597 shares in the last quarter. BlackBarn Capital Partners LP bought a new stake in Eagle Bancorp in the first quarter valued at approximately $7,980,000. Charles Schwab Investment Management Inc. increased its stake in Eagle Bancorp by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 368,919 shares of the financial services provider’s stock valued at $7,747,000 after purchasing an additional 14,074 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Eagle Bancorp in the first quarter valued at approximately $7,275,000. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Stock Performance

Shares of EGBN opened at $20.96 on Friday. The firm has a 50-day moving average of $19.01 and a 200-day moving average of $19.15. Eagle Bancorp, Inc. has a one year low of $15.47 and a one year high of $30.94. The company has a market cap of $636.56 million, a PE ratio of -20.55 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.85.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported ($2.30) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($2.70). The firm had revenue of $74.19 million during the quarter, compared to the consensus estimate of $73.03 million. Eagle Bancorp had a negative net margin of 4.60% and a negative return on equity of 2.54%. As a group, equities analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 8th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, August 8th. Eagle Bancorp’s dividend payout ratio (DPR) is currently -64.71%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EGBN. Piper Sandler lowered their target price on shares of Eagle Bancorp from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a research note on Saturday, September 27th. Janney Montgomery Scott raised shares of Eagle Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, June 10th. Finally, Wall Street Zen downgraded shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Eagle Bancorp presently has an average rating of “Hold” and a consensus target price of $21.00.

Eagle Bancorp Company Profile

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.