Millennium Management LLC Has $3.09 Million Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Millennium Management LLC lessened its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 28.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 118,803 shares of the financial services provider’s stock after selling 46,263 shares during the quarter. Millennium Management LLC owned approximately 0.39% of Eagle Bancorp worth $3,092,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in Eagle Bancorp during the 4th quarter valued at approximately $1,081,000. Oppenheimer & Co. Inc. acquired a new stake in Eagle Bancorp during the 4th quarter valued at approximately $212,000. Smartleaf Asset Management LLC increased its position in Eagle Bancorp by 353.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 775 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Eagle Bancorp during the 4th quarter worth approximately $515,000. Finally, Savant Capital LLC acquired a new stake in shares of Eagle Bancorp during the 4th quarter worth approximately $231,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Eagle Bancorp Price Performance

Shares of EGBN opened at $17.62 on Friday. Eagle Bancorp, Inc. has a 12-month low of $15.99 and a 12-month high of $30.94. The business’s fifty day moving average is $19.13 and its 200 day moving average is $23.34. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. The stock has a market cap of $535.24 million, a P/E ratio of -11.22 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.40). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. The firm had revenue of $73.86 million during the quarter, compared to the consensus estimate of $71.93 million. Sell-side analysts anticipate that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend was Monday, May 5th. Eagle Bancorp’s dividend payout ratio is currently -44.00%.

Insider Buying and Selling

In other news, CFO Eric R. Newell bought 1,170 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the acquisition, the chief financial officer now directly owns 28,733 shares in the company, valued at approximately $614,024.21. This trade represents a 4.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EGBN has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Jefferies Financial Group set a $20.00 price objective on shares of Eagle Bancorp and gave the stock a “hold” rating in a research report on Wednesday, May 21st. Finally, Piper Sandler reduced their price objective on shares of Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, April 28th.

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.