Wellington Management Group LLP Has $35.01 Million Stock Holdings in Eagle Bancorp, Inc. $EGBN

Wellington Management Group LLP boosted its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 5.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,233,336 shares of the financial services provider’s stock after acquiring an additional 68,314 shares during the quarter. Wellington Management Group LLP’s holdings in Eagle Bancorp were worth $35,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Eagle Bancorp during the second quarter worth $39,000. Stone Point Capital LLC acquired a new stake in shares of Eagle Bancorp during the 2nd quarter valued at $21,660,548,000. Bank of New York Mellon Corp bought a new stake in Eagle Bancorp during the 2nd quarter worth $4,678,000. Versant Capital Management Inc grew its position in Eagle Bancorp by 16.2% during the 2nd quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 493 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in Eagle Bancorp by 13.3% in the 1st quarter. Royal Bank of Canada now owns 19,279 shares of the financial services provider’s stock worth $479,000 after purchasing an additional 2,263 shares in the last quarter. Institutional investors own 78.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on EGBN. Piper Sandler increased their target price on Eagle Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Wednesday. Finally, Zacks Research upgraded shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.

Eagle Bancorp Stock Up 1.5%

Shares of NASDAQ:EGBN opened at $28.18 on Friday. The firm has a market cap of $858.93 million, a P/E ratio of -22.37 and a beta of 0.96. 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 12-month low of $15.03 and a 12-month high of $29.29. The business has a fifty day simple moving average of $27.74 and a 200 day simple moving average of $26.73.

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

Eagle Bancorp Dividend Announcement

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