Oppenheimer & Co. Inc. Purchases 2,000 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Oppenheimer & Co. Inc. raised its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 24.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,142 shares of the financial services provider’s stock after acquiring an additional 2,000 shares during the period. Oppenheimer & Co. Inc.’s holdings in Eagle Bancorp were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Eagle Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,689,423 shares of the financial services provider’s stock valued at $70,006,000 after purchasing an additional 35,255 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Eagle Bancorp by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider’s stock valued at $40,919,000 after purchasing an additional 63,702 shares in the last quarter. Fourthstone LLC grew its position in shares of Eagle Bancorp by 382.7% in the fourth quarter. Fourthstone LLC now owns 1,276,653 shares of the financial services provider’s stock valued at $33,231,000 after purchasing an additional 1,012,182 shares in the last quarter. North Reef Capital Management LP grew its position in shares of Eagle Bancorp by 251.9% in the fourth quarter. North Reef Capital Management LP now owns 967,593 shares of the financial services provider’s stock valued at $25,186,000 after purchasing an additional 692,593 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Eagle Bancorp by 14.7% in the fourth quarter. American Century Companies Inc. now owns 648,192 shares of the financial services provider’s stock valued at $16,872,000 after purchasing an additional 83,305 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors.

Eagle Bancorp Price Performance

Eagle Bancorp stock opened at $20.82 on Friday. Eagle Bancorp, Inc. has a 52 week low of $16.68 and a 52 week high of $30.94. The business has a 50-day simple moving average of $18.15 and a 200 day simple moving average of $21.55. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The stock has a market cap of $632.51 million, a price-to-earnings ratio of -13.88 and a beta of 1.05.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.40). Eagle Bancorp had a positive return on equity of 4.86% and a negative net margin of 6.52%. The business had revenue of $73.86 million for the quarter, compared to analysts’ expectations of $71.93 million. On average, research analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 3.17%. The ex-dividend date was Monday, May 5th. Eagle Bancorp’s payout ratio is -44.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EGBN. Wall Street Zen cut Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Jefferies Financial Group set a $20.00 price target on Eagle Bancorp and gave the company a “hold” rating in a research report on Wednesday, May 21st. Piper Sandler reduced their price target on Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Janney Montgomery Scott upgraded Eagle Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Tuesday, June 10th. Finally, Keefe, Bruyette & Woods reduced their target price on Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.75.

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.