Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Bought by Algert Global LLC

Algert Global LLC grew its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 146.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,462 shares of the financial services provider’s stock after purchasing an additional 91,782 shares during the period. Algert Global LLC owned approximately 0.51% of Eagle Bancorp worth $3,488,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Eagle Bancorp in the 2nd quarter worth $35,000. Carmichael Hill & Associates Inc. boosted its holdings in 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 last quarter. GAMMA Investing LLC increased its holdings 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 worth $55,000 after purchasing an additional 1,234 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Eagle Bancorp by 49.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 846 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Eagle Bancorp during the 2nd quarter valued at approximately $89,000. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Stock Performance

Eagle Bancorp stock opened at $30.00 on Tuesday. The company has a market cap of $906 million, a PE ratio of -21.43 and a beta of 1.06. Eagle Bancorp, Inc. has a 12 month low of $15.99 and a 12 month high of $31.97. The company has a fifty day moving average price of $25.15 and a two-hundred day moving average price of $21.60. 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 released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.27. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. The firm had revenue of $180.76 million for the quarter, compared to analyst estimates of $80.31 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. Research analysts expect that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current year.

Eagle Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Monday, October 21st. Eagle Bancorp’s payout ratio is -47.14%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on EGBN shares. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Piper Sandler started coverage on shares of Eagle Bancorp in a research note on Monday, October 21st. They issued a “neutral” rating and a $27.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

About Eagle Bancorp

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.