Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,236 shares of the financial services provider’s stock after selling 490 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Eagle Bancorp worth $389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EGBN. Inspire Investing LLC bought a new stake in shares of Eagle Bancorp in the 3rd quarter valued at approximately $416,000. CWM LLC boosted its holdings in Eagle Bancorp by 46.7% in the third quarter. CWM LLC now owns 14,491 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 4,615 shares during the period. Divergent Planning LLC acquired a new position in Eagle Bancorp in the third quarter worth $218,000. GAMMA Investing LLC increased its stake in Eagle Bancorp by 102.0% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,234 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Eagle Bancorp by 36.5% during the third quarter. SG Americas Securities LLC now owns 29,870 shares of the financial services provider’s stock worth $674,000 after purchasing an additional 7,985 shares during the period. Institutional investors and hedge funds own 78.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Piper Sandler started coverage on shares of Eagle Bancorp in a report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price target for the company. StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

Eagle Bancorp Stock Up 1.9 %

EGBN stock opened at $28.70 on Friday. The stock has a market cap of $866.17 million, a PE ratio of -20.50 and a beta of 1.06. The firm’s 50-day simple moving average is $23.60 and its 200 day simple moving average is $20.96. Eagle Bancorp, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $31.97. The company has a quick ratio of 1.02, a current ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.45 by $0.27. The company had revenue of $180.76 million for the quarter, compared to analyst estimates of $80.31 million. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. During the same quarter last year, the business earned $0.91 earnings per share. As a group, sell-side analysts predict that Eagle Bancorp, Inc. will post 1.68 EPS for the current year.

Eagle Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were given a dividend of $0.165 per share. The ex-dividend date was Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a yield of 2.30%. Eagle Bancorp’s dividend payout ratio (DPR) is presently -47.14%.

Eagle Bancorp Company Profile

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.