Quantinno Capital Management LP Invests $238,000 in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Quantinno Capital Management LP bought a new position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,545 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EGBN. Point72 Asset Management L.P. bought a new position in shares of Eagle Bancorp during the 2nd quarter valued at about $35,000. Point72 DIFC Ltd acquired a new position in Eagle Bancorp in the third quarter worth approximately $48,000. Carmichael Hill & Associates Inc. increased its holdings 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 buying an additional 721 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Eagle Bancorp by 102.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,234 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Eagle Bancorp by 49.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 846 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EGBN has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Piper Sandler began coverage on shares of Eagle Bancorp in a report on Monday, October 21st. They set a “neutral” rating and a $27.00 price target on the stock.

Eagle Bancorp Stock Performance

Shares of EGBN stock opened at $29.45 on Tuesday. The company has a market capitalization of $889.45 million, a price-to-earnings ratio of -21.04 and a beta of 1.09. Eagle Bancorp, Inc. has a 1-year low of $15.99 and a 1-year high of $31.86. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $27.32 and its 200-day simple moving average is $22.71.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share 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 analysts’ expectations of $80.31 million. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. During the same quarter in the previous year, the business posted $0.91 EPS. On average, sell-side analysts predict that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were paid a $0.165 dividend. The ex-dividend date was Monday, October 21st. This represents a $0.66 annualized dividend and a yield of 2.24%. Eagle Bancorp’s dividend payout ratio 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.