Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 102.0% during the third quarter, Holdings Channel reports. The firm owned 2,444 shares of the financial services provider’s stock after buying an additional 1,234 shares during the quarter. GAMMA Investing LLC’s holdings in Eagle Bancorp were worth $55,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new position in shares of Eagle Bancorp in the 1st quarter worth about $26,000. Point72 Asset Management L.P. purchased a new stake in shares of Eagle Bancorp during the second quarter worth about $35,000. Carmichael Hill & Associates Inc. lifted 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 worth $51,000 after acquiring an additional 721 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Eagle Bancorp during the 2nd quarter valued at approximately $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Eagle Bancorp by 122.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,917 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 3,804 shares in the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Stock Performance

Shares of EGBN stock opened at $24.76 on Thursday. The firm has a market capitalization of $747.50 million, a price-to-earnings ratio of 9.86 and a beta of 1.09. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.02 and a quick ratio of 1.02. Eagle Bancorp, Inc. has a 12-month low of $15.99 and a 12-month high of $31.97. The business has a 50 day simple moving average of $21.72 and a 200 day simple moving average of $20.44.

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

Eagle Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Monday, October 21st. Eagle Bancorp’s payout ratio is presently 26.29%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased 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.

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.