Eagle Bancorp, Inc. $EGBN Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 21.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 28,676 shares of the financial services provider’s stock after selling 7,804 shares during the period. Intech Investment Management LLC’s holdings in Eagle Bancorp were worth $559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jump Financial LLC purchased a new stake in Eagle Bancorp in the 1st quarter worth $930,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Eagle Bancorp during the first quarter worth about $3,532,000. Nuveen LLC acquired a new position in shares of Eagle Bancorp during the 1st quarter worth about $7,275,000. Allianz Asset Management GmbH purchased a new position in Eagle Bancorp in the 2nd quarter valued at about $831,000. Finally, Hennessy Advisors Inc. boosted its holdings in Eagle Bancorp by 40.0% in the 2nd quarter. Hennessy Advisors Inc. now owns 140,000 shares of the financial services provider’s stock worth $2,727,000 after buying an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Insider Activity

In other news, CFO Eric R. Newell purchased 3,050 shares of Eagle Bancorp stock in a transaction dated Friday, November 14th. The shares were purchased at an average price of $16.55 per share, with a total value of $50,477.50. Following the transaction, the chief financial officer owned 33,615 shares in the company, valued at $556,328.25. This represents a 9.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Louis P. Jr. Mathews acquired 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was acquired at an average price of $17.20 per share, with a total value of $25,800.00. Following the completion of the transaction, the director directly owned 10,157 shares of the company’s stock, valued at $174,700.40. This trade represents a 17.33% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 6,050 shares of company stock worth $101,538 over the last quarter. 3.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EGBN shares. Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, October 8th. Zacks Research cut Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Finally, Piper Sandler decreased their price objective on Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $21.25.

Eagle Bancorp Price Performance

NASDAQ:EGBN opened at $18.97 on Friday. The stock has a 50 day moving average price of $18.67 and a 200 day moving average price of $18.72. The stock has a market cap of $576.14 million, a PE ratio of -4.79 and a beta of 1.17. 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, Inc. has a one year low of $15.03 and a one year high of $30.15.

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. Eagle Bancorp had a negative return on equity of 10.07% and a negative net margin of 18.65%.The company had revenue of $88.48 million during the quarter. Equities research analysts expect that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Eagle Bancorp’s payout ratio is -1.01%.

About Eagle Bancorp

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.