Sippican Capital Advisors Raises Stock Position in Eagle Bancorp, Inc. $EGBN

Sippican Capital Advisors boosted its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 161.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 98,680 shares of the financial services provider’s stock after buying an additional 60,920 shares during the period. Eagle Bancorp accounts for approximately 1.4% of Sippican Capital Advisors’ holdings, making the stock its 25th biggest position. Sippican Capital Advisors’ holdings in Eagle Bancorp were worth $2,114,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. North Reef Capital Management LP increased its stake in Eagle Bancorp by 558.2% in the 3rd quarter. North Reef Capital Management LP now owns 2,632,918 shares of the financial services provider’s stock worth $53,238,000 after buying an additional 2,232,918 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Eagle Bancorp by 5.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 644,957 shares of the financial services provider’s stock worth $13,041,000 after buying an additional 32,787 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Eagle Bancorp in the 3rd quarter worth $12,314,000. Millennium Management LLC grew its position in shares of Eagle Bancorp by 135.6% during the third quarter. Millennium Management LLC now owns 444,631 shares of the financial services provider’s stock valued at $8,990,000 after purchasing an additional 255,932 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Eagle Bancorp by 15.1% during the second quarter. Invesco Ltd. now owns 442,614 shares of the financial services provider’s stock valued at $8,622,000 after purchasing an additional 58,212 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Stock Performance

Shares of Eagle Bancorp stock opened at $26.51 on Monday. The firm has a market cap of $804.84 million, a price-to-earnings ratio of -6.30 and a beta of 0.99. The business has a 50-day moving average price of $25.67 and a 200-day moving average price of $22.22. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.07. Eagle Bancorp, Inc. has a twelve month low of $15.03 and a twelve month high of $29.26.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.37. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.93%. The firm had revenue of $80.50 million during the quarter, compared to the consensus estimate of $67.81 million. Equities research analysts anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Eagle Bancorp’s dividend payout ratio (DPR) is presently -0.95%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler raised their price objective on Eagle Bancorp from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, February 2nd. UBS Group set a $25.00 price objective on Eagle Bancorp in a research report on Tuesday, January 27th. Weiss Ratings restated a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, January 21st. Wall Street Zen upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Zacks Research upgraded Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $23.60.

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.