Bank of America Corp DE lessened its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 21.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,594 shares of the financial services provider's stock after selling 39,021 shares during the period. Bank of America Corp DE owned approximately 0.47% of Eagle Bancorp worth $3,660,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Eagle Bancorp by 353.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock worth $26,000 after buying an additional 775 shares in the last quarter. R Squared Ltd bought a new position in Eagle Bancorp during the fourth quarter worth about $51,000. Millstone Evans Group LLC acquired a new stake in Eagle Bancorp in the 4th quarter worth about $59,000. Russell Investments Group Ltd. grew its position in shares of Eagle Bancorp by 42.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock worth $82,000 after purchasing an additional 933 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Eagle Bancorp during the 4th quarter worth approximately $212,000. Institutional investors and hedge funds own 78.03% of the company's stock.
Eagle Bancorp Price Performance
Shares of EGBN stock traded down $0.19 on Wednesday, hitting $17.15. 234,329 shares of the company's stock were exchanged, compared to its average volume of 327,673. The company has a 50 day moving average of $18.89 and a 200 day moving average of $23.14. The stock has a market cap of $520.97 million, a P/E ratio of -10.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.86. Eagle Bancorp, Inc. has a 12 month low of $15.99 and a 12 month high of $30.94.
Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its 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 company had revenue of $73.86 million during 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%. On average, equities research analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.
Eagle Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were issued a $0.165 dividend. The ex-dividend date was Monday, May 5th. This represents a $0.66 dividend on an annualized basis and a yield of 3.85%. Eagle Bancorp's dividend payout ratio (DPR) is presently -44.00%.
Insider Buying and Selling
In other Eagle Bancorp news, CFO Eric R. Newell bought 1,170 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $21.37 per share, with a total value of $25,002.90. Following the completion of the purchase, the chief financial officer now directly owns 28,733 shares of the company's stock, valued at approximately $614,024.21. This trade represents a 4.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.39% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages recently issued reports on EGBN. Jefferies Financial Group set a $20.00 price target on Eagle Bancorp and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Piper Sandler reduced their target price on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price target on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a research note on Monday, April 28th.
Read Our Latest Report on EGBN
About Eagle Bancorp
(
Free Report)
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.
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