JPMorgan Chase & Co. Purchases 128,396 Shares of Eagle Bancorp, Inc. $EGBN

JPMorgan Chase & Co. increased its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 851.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 143,480 shares of the financial services provider’s stock after acquiring an additional 128,396 shares during the period. JPMorgan Chase & Co.’s holdings in Eagle Bancorp were worth $2,901,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EGBN. Versant Capital Management Inc grew its stake in shares of Eagle Bancorp by 102.2% during the third quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock valued at $30,000 after buying an additional 753 shares during the last quarter. Financial Consulate Inc. purchased a new stake in Eagle Bancorp during the third quarter worth $34,000. Hantz Financial Services Inc. boosted its position in Eagle Bancorp by 298.0% during the third quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 2,378 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Eagle Bancorp by 113.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock valued at $80,000 after buying an additional 2,172 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Eagle Bancorp in the second quarter worth $99,000. Institutional investors own 78.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on EGBN. UBS Group set a $25.00 price objective on shares of Eagle Bancorp in a research note on Tuesday, January 27th. Wall Street Zen upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, January 21st. Zacks Research lowered shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, Piper Sandler boosted their price target on Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.60.

Eagle Bancorp Price Performance

Eagle Bancorp stock opened at $25.56 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $776.00 million, a P/E ratio of -6.07 and a beta of 0.99. The stock’s fifty day simple moving average is $25.67 and its 200-day simple moving average is $22.04. Eagle Bancorp, Inc. has a twelve month low of $15.03 and a twelve month high of $29.26.

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

Eagle Bancorp Announces Dividend

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

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.