Atlantic Union Bankshares Corp Makes New Investment in Eagle Bancorp, Inc. $EGBN

Atlantic Union Bankshares Corp purchased a new position in Eagle Bancorp, Inc. (NASDAQ:EGBN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,600 shares of the financial services provider’s stock, valued at approximately $70,000.

A number of other institutional investors also recently modified their holdings of EGBN. Principal Financial Group Inc. raised its stake in Eagle Bancorp by 2.7% during the first quarter. Principal Financial Group Inc. now owns 150,357 shares of the financial services provider’s stock worth $3,157,000 after buying an additional 3,941 shares during the last quarter. Cerity Partners LLC grew its holdings in Eagle Bancorp by 25.7% during the 1st quarter. Cerity Partners LLC now owns 13,818 shares of the financial services provider’s stock worth $290,000 after acquiring an additional 2,823 shares during the period. New York State Common Retirement Fund raised its position in shares of Eagle Bancorp by 13.2% in the 1st quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 1,000 shares in the last quarter. CWM LLC raised its position in shares of Eagle Bancorp by 5.5% in the 1st quarter. CWM LLC now owns 15,287 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 802 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Eagle Bancorp in the 1st quarter valued at about $304,000. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Trading Down 1.6%

Shares of Eagle Bancorp stock opened at $16.32 on Tuesday. The stock has a market capitalization of $495.62 million, a PE ratio of -4.12 and a beta of 1.17. Eagle Bancorp, Inc. has a 52 week low of $15.03 and a 52 week high of $30.94. The stock has a 50 day moving average price of $19.43 and a two-hundred day moving average price of $18.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.84 and a current ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Monday, September 11th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter. The company had revenue of $88.48 million for the quarter. Eagle Bancorp had a negative return on equity of 10.07% and a negative net margin of 18.65%. As a group, equities analysts anticipate that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, November 3rd. Eagle Bancorp’s dividend payout ratio (DPR) is currently -1.01%.

Analysts Set New Price Targets

EGBN has been the subject of several recent analyst reports. Zacks Research cut Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Piper Sandler reduced their price objective on shares of Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Wall Street Zen lowered shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $21.25.

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.