Algert Global LLC Increases Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Algert Global LLC lifted its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 34.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 207,508 shares of the financial services provider's stock after purchasing an additional 53,046 shares during the quarter. Algert Global LLC owned about 0.69% of Eagle Bancorp worth $5,401,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Eagle Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 2,689,423 shares of the financial services provider's stock valued at $70,006,000 after acquiring an additional 35,255 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Eagle Bancorp by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider's stock valued at $40,919,000 after buying an additional 63,702 shares during the period. Fourthstone LLC boosted its position in Eagle Bancorp by 382.7% during the fourth quarter. Fourthstone LLC now owns 1,276,653 shares of the financial services provider's stock worth $33,231,000 after acquiring an additional 1,012,182 shares during the last quarter. North Reef Capital Management LP grew its stake in Eagle Bancorp by 251.9% in the 4th quarter. North Reef Capital Management LP now owns 967,593 shares of the financial services provider's stock worth $25,186,000 after acquiring an additional 692,593 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Eagle Bancorp by 14.7% during the fourth quarter. American Century Companies Inc. now owns 648,192 shares of the financial services provider's stock worth $16,872,000 after purchasing an additional 83,305 shares during the last quarter. Hedge funds and other institutional investors own 78.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EGBN shares. Piper Sandler reduced their price objective on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price on shares of Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th.

Insider Buying and Selling at Eagle Bancorp

In related news, CFO Eric R. Newell purchased 1,170 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $21.37 per share, for a total transaction of $25,002.90. Following the purchase, the chief financial officer now directly owns 28,733 shares in the company, valued at approximately $614,024.21. This trade represents a 4.24 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% of the company's stock.

Eagle Bancorp Price Performance

Shares of NASDAQ EGBN traded up $0.01 during trading on Friday, reaching $18.43. The company had a trading volume of 177,873 shares, compared to its average volume of 333,198. The business's 50 day moving average price is $20.09 and its 200-day moving average price is $24.30. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88. Eagle Bancorp, Inc. has a 52 week low of $15.99 and a 52 week high of $30.94. The stock has a market cap of $559.72 million, a PE ratio of -11.74 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.40). The business had revenue of $73.86 million for the quarter, compared to the consensus estimate of $71.93 million. Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. Analysts expect that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.58%. Eagle Bancorp's payout ratio is presently -44.00%.

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.