Eagle Bancorp, Inc. (NASDAQ:EGBN) Stake Lifted by Empowered Funds LLC

Empowered Funds LLC raised its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 5.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 28,300 shares of the financial services provider’s stock after buying an additional 1,340 shares during the quarter. Empowered Funds LLC’s holdings in Eagle Bancorp were worth $639,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new stake in shares of Eagle Bancorp in the 2nd quarter worth about $35,000. Carmichael Hill & Associates Inc. increased its stake in shares of Eagle Bancorp by 36.1% in the second quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 721 shares during the period. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 1,234 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Eagle Bancorp by 49.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after buying an additional 846 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Eagle Bancorp during the second quarter worth approximately $89,000. 78.03% of the stock is currently owned by institutional investors.

Eagle Bancorp Price Performance

NASDAQ EGBN opened at $29.41 on Friday. Eagle Bancorp, Inc. has a 12 month low of $15.99 and a 12 month high of $31.97. The firm has a market capitalization of $888.18 million, a PE ratio of -21.01 and a beta of 1.06. The company’s 50 day simple moving average is $25.15 and its 200 day simple moving average is $21.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.27. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. The company had revenue of $180.76 million for the quarter, compared to analysts’ expectations of $80.31 million. During the same period last year, the firm earned $0.91 EPS. As a group, equities research analysts forecast that Eagle Bancorp, Inc. will post 1.68 EPS for the current fiscal 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 $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp’s dividend payout ratio (DPR) is presently -47.14%.

Analyst Ratings Changes

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

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.