JPMorgan Chase & Co. Acquires 128,396 Shares of Eagle Bancorp, Inc. $EGBN

JPMorgan Chase & Co. grew its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 851.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,480 shares of the financial services provider’s stock after acquiring an additional 128,396 shares during the period. JPMorgan Chase & Co. owned 0.47% of Eagle Bancorp worth $2,901,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. North Reef Capital Management LP boosted its position in shares of Eagle Bancorp by 558.2% in the third quarter. North Reef Capital Management LP now owns 2,632,918 shares of the financial services provider’s stock valued at $53,238,000 after acquiring an additional 2,232,918 shares during the period. Wellington Management Group LLP bought a new position in Eagle Bancorp in the 3rd quarter valued at approximately $12,314,000. Millennium Management LLC lifted its holdings in shares of Eagle Bancorp by 135.6% during the third quarter. Millennium Management LLC now owns 444,631 shares of the financial services provider’s stock worth $8,990,000 after purchasing an additional 255,932 shares during the period. Fourthstone LLC grew its position in shares of Eagle Bancorp by 63.6% in the 2nd quarter. Fourthstone LLC now owns 644,930 shares of the financial services provider’s stock valued at $12,563,000 after buying an additional 250,729 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Eagle Bancorp by 75.4% during the 2nd quarter. AQR Capital Management LLC now owns 385,677 shares of the financial services provider’s stock valued at $7,513,000 after purchasing an additional 165,747 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, January 21st. Zacks Research downgraded shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Wall Street Zen raised Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, UBS Group set a $25.00 target price on shares of Eagle Bancorp in a report on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.60.

Eagle Bancorp Price Performance

Shares of Eagle Bancorp stock opened at $25.56 on Monday. The company has a 50-day moving average of $25.67 and a 200 day moving average of $22.04. Eagle Bancorp, Inc. has a 1 year low of $15.03 and a 1 year high of $29.26. The firm has a market cap of $776.00 million, a price-to-earnings ratio of -6.07 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.37. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.93%. The company had revenue of $80.50 million for the quarter, compared to the consensus estimate of $67.81 million. As a group, sell-side analysts anticipate that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, February 2nd. Eagle Bancorp’s payout ratio is currently -0.95%.

About Eagle Bancorp

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company’s product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.