BNP Paribas Financial Markets Cuts Stock Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

BNP Paribas Financial Markets lowered its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 12.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,489 shares of the financial services provider’s stock after selling 7,138 shares during the period. BNP Paribas Financial Markets owned approximately 0.16% of Eagle Bancorp worth $1,262,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of EGBN. Nisa Investment Advisors LLC raised its stake in Eagle Bancorp by 934.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 26,346 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 23,800 shares during the period. R Squared Ltd purchased a new position in Eagle Bancorp during the fourth quarter worth approximately $51,000. Empowered Funds LLC raised its stake in Eagle Bancorp by 95.0% during the fourth quarter. Empowered Funds LLC now owns 55,189 shares of the financial services provider’s stock worth $1,437,000 after purchasing an additional 26,889 shares during the period. Savant Capital LLC purchased a new position in Eagle Bancorp during the fourth quarter worth approximately $231,000. Finally, Rhumbline Advisers raised its stake in Eagle Bancorp by 4.0% during the fourth quarter. Rhumbline Advisers now owns 99,351 shares of the financial services provider’s stock worth $2,586,000 after purchasing an additional 3,810 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Insider Buying and Selling

In other news, CFO Eric R. Newell purchased 1,170 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $21.37 per share, with a total value of $25,002.90. Following the purchase, the chief financial officer now directly owns 28,733 shares of the company’s stock, valued at approximately $614,024.21. This represents a 4.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods cut their target price on shares of Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Piper Sandler cut their target price on shares of Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th.

Eagle Bancorp Stock Performance

Shares of EGBN stock opened at $18.65 on Tuesday. The company’s fifty day simple moving average is $19.83 and its 200-day simple moving average is $23.97. Eagle Bancorp, Inc. has a 52 week low of $15.99 and a 52 week high of $30.94. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a market cap of $566.53 million, a PE ratio of -11.88 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.40). Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. The business had revenue of $73.86 million during the quarter, compared to analysts’ expectations of $71.93 million. As a group, equities research analysts anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Monday, May 5th. Eagle Bancorp’s dividend payout ratio (DPR) is -44.00%.

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.