Stone Point Capital LLC Takes $21.66 Billion Position in Eagle Bancorp, Inc. $EGBN

Stone Point Capital LLC acquired a new position in 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 acquired 5,822,728 shares of the financial services provider’s stock, valued at approximately $21,660,548,000. Eagle Bancorp accounts for 100.0% of Stone Point Capital LLC’s holdings, making the stock its largest position. Stone Point Capital LLC owned approximately 19.10% of Eagle Bancorp as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in Eagle Bancorp during the 2nd quarter worth approximately $4,678,000. Versant Capital Management Inc increased its stake in Eagle Bancorp by 16.2% in the 2nd quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 493 shares during the period. Royal Bank of Canada lifted its position in Eagle Bancorp by 13.3% in the first quarter. Royal Bank of Canada now owns 19,279 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 2,263 shares during the last quarter. Empowered Funds LLC lifted its position in Eagle Bancorp by 15.2% in the first quarter. Empowered Funds LLC now owns 113,806 shares of the financial services provider’s stock valued at $2,830,000 after purchasing an additional 15,006 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Eagle Bancorp by 15.2% during the first quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider’s stock valued at $4,673,000 after purchasing an additional 24,842 shares during the period. Institutional investors own 78.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Eagle Bancorp in a report on Friday, June 5th. Piper Sandler upped their price target on shares of Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, Zacks Research cut shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Eagle Bancorp has an average rating of “Hold” and a consensus price target of $29.00.

Eagle Bancorp Trading Down 0.4%

EGBN opened at $28.45 on Wednesday. The business has a 50 day simple moving average of $27.83 and a two-hundred day simple moving average of $26.66. The firm has a market capitalization of $867.16 million, a price-to-earnings ratio of -22.58 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86. Eagle Bancorp, Inc. has a one year low of $15.03 and a one year high of $29.29.

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

Eagle Bancorp Announces Dividend

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

Eagle Bancorp 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.