Sippican Capital Advisors Purchases 24,805 Shares of Eagle Bancorp, Inc. $EGBN

Sippican Capital Advisors boosted its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 191.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,760 shares of the financial services provider’s stock after purchasing an additional 24,805 shares during the quarter. Sippican Capital Advisors’ holdings in Eagle Bancorp were worth $764,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Eagle Bancorp by 0.6% in the second quarter. Geode Capital Management LLC now owns 733,007 shares of the financial services provider’s stock valued at $14,281,000 after acquiring an additional 4,392 shares during the period. Fourthstone LLC raised its stake in Eagle Bancorp by 63.6% in the 2nd quarter. Fourthstone LLC now owns 644,930 shares of the financial services provider’s stock worth $12,563,000 after purchasing an additional 250,729 shares in the last quarter. BlackBarn Capital Partners LP boosted its holdings in Eagle Bancorp by 40.0% in the 2nd quarter. BlackBarn Capital Partners LP now owns 532,181 shares of the financial services provider’s stock valued at $10,367,000 after purchasing an additional 152,181 shares during the period. Invesco Ltd. boosted its stake in shares of Eagle Bancorp by 15.1% in the second quarter. Invesco Ltd. now owns 442,614 shares of the financial services provider’s stock valued at $8,622,000 after buying an additional 58,212 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Eagle Bancorp by 75.4% in 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 acquiring an additional 165,747 shares in the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eagle Bancorp news, Director Louis P. Jr. Mathews bought 1,500 shares of the stock in a transaction on Friday, November 21st. The stock was acquired at an average cost of $17.20 per share, for a total transaction of $25,800.00. Following the completion of the acquisition, the director owned 10,157 shares in the company, valued at $174,700.40. This trade represents a 17.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Eric R. Newell acquired 3,050 shares of the stock in a transaction dated Friday, November 14th. The stock was bought at an average price of $16.55 per share, with a total value of $50,477.50. Following the purchase, the chief financial officer directly 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 SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 6,050 shares of company stock worth $101,538. Insiders own 3.10% of the company’s stock.

Eagle Bancorp Stock Performance

NASDAQ EGBN opened at $21.69 on Tuesday. The firm’s fifty day moving average price is $19.68 and its two-hundred day moving average price is $19.46. The stock has a market cap of $658.73 million, a PE ratio of -5.48 and a beta of 1.02. 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 fifty-two week low of $15.03 and a fifty-two week high of $27.07.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported ($2.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($1.92). The company had revenue of $70.65 million during the quarter, compared to analyst estimates of $69.03 million. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.07%. On average, equities analysts expect that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

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

Analysts Set New Price Targets

EGBN has been the topic of a number of recent analyst reports. Piper Sandler decreased their price target on Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.25.

Eagle Bancorp Company Profile

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.