Readystate Asset Management LP Acquires Shares of 23,716 Eagle Bancorp, Inc. (NASDAQ:EGBN)

Readystate Asset Management LP acquired a new stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,716 shares of the financial services provider’s stock, valued at approximately $498,000. Readystate Asset Management LP owned about 0.08% of Eagle Bancorp at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in shares of Eagle Bancorp by 42.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider’s stock worth $82,000 after buying an additional 933 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Eagle Bancorp by 13.2% in the 1st quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 1,000 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Eagle Bancorp by 24.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 2,000 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of Eagle Bancorp in the 4th quarter worth approximately $220,000. Finally, Focus Partners Wealth bought a new stake in shares of Eagle Bancorp in the 4th quarter worth approximately $224,000. 78.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EGBN shares. Wall Street Zen raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Janney Montgomery Scott raised shares of Eagle Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Tuesday, June 10th. Piper Sandler decreased their target price on shares of Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their price objective on shares of Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. Finally, Jefferies Financial Group set a $20.00 price objective on shares of Eagle Bancorp and gave the company a “hold” rating in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Eagle Bancorp presently has an average rating of “Hold” and a consensus price target of $21.75.

Eagle Bancorp Trading Up 0.7%

EGBN opened at $21.49 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $652.87 million, a PE ratio of -14.33 and a beta of 1.05. Eagle Bancorp, Inc. has a 1-year low of $16.68 and a 1-year high of $30.94. The firm has a 50-day moving average price of $18.94 and a two-hundred day moving average price of $21.05.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported ($2.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($2.70). Eagle Bancorp had a negative net margin of 6.52% and a positive return on equity of 4.86%. As a group, equities analysts anticipate that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Company Profile

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.