Hsbc Holdings PLC Lowers Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Hsbc Holdings PLC lowered its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,851 shares of the financial services provider’s stock after selling 1,064 shares during the quarter. Hsbc Holdings PLC’s holdings in Eagle Bancorp were worth $243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new stake in Eagle Bancorp during the 1st quarter valued at approximately $26,000. Carmichael Hill & Associates Inc. grew its stake in Eagle Bancorp by 36.1% during the second quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 721 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Eagle Bancorp in the 2nd quarter valued at $89,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Eagle Bancorp by 122.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,917 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 3,804 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Eagle Bancorp by 78.8% during the 2nd quarter. CWM LLC now owns 9,876 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 4,351 shares during the last quarter. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Stock Performance

Eagle Bancorp stock opened at $23.31 on Friday. The company’s 50-day moving average price is $21.19 and its 200-day moving average price is $20.40. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.42. The company has a market cap of $703.73 million, a PE ratio of 9.29 and a beta of 1.09. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month high of $31.97.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.34. The company had revenue of $175.06 million for the quarter, compared to analysts’ expectations of $80.90 million. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, equities research analysts forecast that Eagle Bancorp, Inc. will post 1.46 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be given a $0.165 dividend. The ex-dividend date is Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a yield of 2.83%. Eagle Bancorp’s dividend payout ratio is presently 71.71%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EGBN. StockNews.com cut Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, June 9th. Keefe, Bruyette & Woods lifted their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

About Eagle Bancorp

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.