Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 24.5% during the 3rd quarter, Holdings Channel reports. The fund owned 60,103 shares of the financial services provider’s stock after selling 19,465 shares during the quarter. Royce & Associates LP’s holdings in Eagle Bancorp were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in EGBN. Point72 Asset Management L.P. acquired a new position in shares of Eagle Bancorp during the second quarter valued at $35,000. GAMMA Investing LLC increased its stake in 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 buying an additional 1,234 shares during the period. Nisa Investment Advisors LLC raised its position 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 buying an additional 846 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its stake in shares of Eagle Bancorp by 36.1% in the 2nd 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 during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Eagle Bancorp in the second quarter valued at approximately $89,000. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Trading Down 0.3 %

Shares of NASDAQ:EGBN opened at $28.53 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $861.61 million, a price-to-earnings ratio of -20.38 and a beta of 1.06. Eagle Bancorp, Inc. has a 1-year low of $15.99 and a 1-year high of $31.97. The company has a 50 day moving average price of $24.69 and a 200 day moving average price of $21.41.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $180.76 million for the quarter, compared to analysts’ expectations of $80.31 million. During the same period in the previous year, the firm posted $0.91 EPS. On average, research analysts anticipate that Eagle Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Monday, October 21st. Eagle Bancorp’s dividend payout ratio is presently -47.14%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EGBN shares. Piper Sandler began coverage on Eagle Bancorp in a research report on Monday, October 21st. They issued a “neutral” rating and a $27.00 target price for the company. StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods raised 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 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.