Goldman Sachs Group Inc. Decreases Position in Eagle Bancorp, Inc. $EGBN

Goldman Sachs Group Inc. cut its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,695 shares of the financial services provider’s stock after selling 25,573 shares during the period. Goldman Sachs Group Inc. owned 0.76% of Eagle Bancorp worth $4,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EGBN. New York State Common Retirement Fund raised its holdings in shares of Eagle Bancorp by 13.2% in the first quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider’s stock worth $180,000 after buying an additional 1,000 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Eagle Bancorp in the first quarter worth approximately $205,000. Aigen Investment Management LP purchased a new stake in shares of Eagle Bancorp in the first quarter worth approximately $209,000. Oppenheimer & Co. Inc. raised its holdings in shares of Eagle Bancorp by 24.6% in the first quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider’s stock worth $213,000 after buying an additional 2,000 shares during the period. Finally, Focus Partners Wealth purchased a new stake in shares of Eagle Bancorp in the fourth quarter worth approximately $224,000. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Eagle Bancorp Trading Down 0.6%

Shares of NASDAQ:EGBN opened at $20.34 on Wednesday. Eagle Bancorp, Inc. has a 12-month low of $15.47 and a 12-month high of $30.94. The business’s fifty day simple moving average is $18.95 and its 200-day simple moving average is $19.22. The company has a market capitalization of $617.73 million, a PE ratio of -19.94 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06.

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

Eagle Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 8th were given a $0.165 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.2%. Eagle Bancorp’s dividend payout ratio (DPR) is presently -64.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group set a $20.00 price target on Eagle Bancorp and gave the stock a “hold” rating in a report on Wednesday, May 21st. Piper Sandler reduced their price target on Eagle Bancorp from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Janney Montgomery Scott upgraded Eagle Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday, June 10th. Finally, Wall Street Zen downgraded Eagle Bancorp from a “hold” rating to a “strong sell” rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Eagle Bancorp currently has a consensus rating of “Hold” and a consensus price target of $21.00.

Eagle Bancorp 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.