Ameriprise Financial Inc. Reduces Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Ameriprise Financial Inc. decreased its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 161,155 shares of the financial services provider's stock after selling 26,238 shares during the period. Ameriprise Financial Inc. owned 0.53% of Eagle Bancorp worth $4,195,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EGBN. Fourthstone LLC increased 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 buying an additional 1,012,182 shares in the last quarter. North Reef Capital Management LP increased its position in Eagle Bancorp by 251.9% during the fourth quarter. North Reef Capital Management LP now owns 967,593 shares of the financial services provider's stock worth $25,186,000 after buying an additional 692,593 shares in the last quarter. JPMorgan Chase & Co. increased its position in Eagle Bancorp by 69.5% during the fourth quarter. JPMorgan Chase & Co. now owns 268,214 shares of the financial services provider's stock worth $6,982,000 after buying an additional 109,960 shares in the last quarter. American Century Companies Inc. increased its position in 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 buying an additional 83,305 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Eagle Bancorp by 69.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 178,418 shares of the financial services provider's stock valued at $4,644,000 after purchasing an additional 73,378 shares during the period. Hedge funds and other institutional investors own 78.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EGBN shares. Piper Sandler lowered their price objective on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Jefferies Financial Group set a $20.00 price objective on Eagle Bancorp and gave the company a "hold" rating in a research report on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods lowered their price objective on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a research report on Monday, April 28th.

Insider Activity at Eagle Bancorp

In related news, CFO Eric R. Newell acquired 1,170 shares of Eagle Bancorp stock in a transaction on Friday, March 7th. The shares were bought at an average price of $21.37 per share, for a total transaction of $25,002.90. Following the completion of the purchase, the chief financial officer now directly owns 28,733 shares in the company, valued at $614,024.21. This trade represents a 4.24% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

Eagle Bancorp Trading Down 2.8%

Eagle Bancorp stock traded down $0.49 during midday trading on Wednesday, reaching $17.32. The stock had a trading volume of 193,453 shares, compared to its average volume of 329,094. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month high of $30.94. The stock has a market capitalization of $526.13 million, a PE ratio of -11.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88. The stock's 50-day simple moving average is $19.38 and its 200 day simple moving average is $23.59.

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

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Monday, May 5th. Eagle Bancorp's payout ratio is currently -44.00%.

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.