Stone Point Capital LLC Takes Position in Eagle Bancorp, Inc. $EGBN

Stone Point Capital LLC purchased a new stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,822,728 shares of the financial services provider’s stock, valued at approximately $21,660,548,000. Eagle Bancorp accounts for approximately 100.0% of Stone Point Capital LLC’s holdings, making the stock its biggest position. Stone Point Capital LLC owned about 0.19% of Eagle Bancorp as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in Eagle Bancorp by 8.9% in the first quarter. AQR Capital Management LLC now owns 219,930 shares of the financial services provider’s stock worth $4,619,000 after buying an additional 17,943 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Eagle Bancorp by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 780 shares during the period. Millennium Management LLC grew its holdings in shares of Eagle Bancorp by 164.6% during the 1st quarter. Millennium Management LLC now owns 314,370 shares of the financial services provider’s stock worth $6,602,000 after acquiring an additional 195,567 shares during the period. Empowered Funds LLC raised its position in shares of Eagle Bancorp by 65.0% in the 1st quarter. Empowered Funds LLC now owns 91,087 shares of the financial services provider’s stock worth $1,913,000 after acquiring an additional 35,898 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Eagle Bancorp by 15.1% in the 2nd quarter. Invesco Ltd. now owns 442,614 shares of the financial services provider’s stock worth $8,622,000 after acquiring an additional 58,212 shares in the last quarter. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Trading Down 0.4%

NASDAQ:EGBN opened at $28.45 on Wednesday. Eagle Bancorp, Inc. has a one year low of $15.03 and a one year high of $29.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86. The company’s 50-day simple moving average is $27.83 and its 200 day simple moving average is $26.66. The firm has a market capitalization of $867.16 million, a P/E ratio of -22.58 and a beta of 0.96.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.11). Eagle Bancorp had a negative net margin of 6.43% and a negative return on equity of 3.37%. The business had revenue of $73.11 million for the quarter, compared to the consensus estimate of $74.41 million. As a group, analysts forecast that Eagle Bancorp, Inc. will post 1.52 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Thursday, August 6th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Thursday, August 6th. Eagle Bancorp’s payout ratio is currently -3.17%.

Wall Street Analysts Forecast Growth

EGBN has been the topic of several research reports. Piper Sandler lifted their price target on Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Zacks Research downgraded Eagle Bancorp from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.00.

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.