Jacobs Levy Equity Management Inc. Purchases New Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Jacobs Levy Equity Management Inc. bought a new stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,984 shares of the financial services provider's stock, valued at approximately $807,000. Jacobs Levy Equity Management Inc. owned approximately 0.10% of Eagle Bancorp at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Eagle Bancorp by 1.3% in 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 buying an additional 35,255 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Eagle Bancorp by 4.2% in 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 purchasing an additional 63,702 shares during the last quarter. Fourthstone LLC grew its position in shares of Eagle Bancorp by 382.7% in the fourth quarter. Fourthstone LLC now owns 1,276,653 shares of the financial services provider's stock valued at $33,231,000 after purchasing an additional 1,012,182 shares during the last quarter. North Reef Capital Management LP grew its position in shares of Eagle Bancorp by 251.9% in the fourth quarter. North Reef Capital Management LP now owns 967,593 shares of the financial services provider's stock valued at $25,186,000 after purchasing an additional 692,593 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Eagle Bancorp by 14.7% in the fourth quarter. American Century Companies Inc. now owns 648,192 shares of the financial services provider's stock valued at $16,872,000 after purchasing an additional 83,305 shares during the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eagle Bancorp

In other Eagle Bancorp news, CFO Eric R. Newell bought 1,170 shares of the business's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $21.37 per share, with a total value of $25,002.90. Following the transaction, 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 filing with the SEC, which can be accessed through this link. 3.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler lowered their price target on shares of Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price target on 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. Finally, Jefferies Financial Group set a $20.00 price target on shares of Eagle Bancorp and gave the company a "hold" rating in a report on Wednesday.

Eagle Bancorp Stock Down 0.3%

NASDAQ EGBN traded down $0.06 on Friday, reaching $17.47. The company had a trading volume of 209,796 shares, compared to its average volume of 329,998. The firm has a market capitalization of $530.69 million, a PE ratio of -11.13 and a beta of 1.02. Eagle Bancorp, Inc. has a 1 year low of $15.99 and a 1 year high of $30.94. The firm has a 50-day moving average of $19.55 and a 200-day moving average of $23.78. 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 (NASDAQ:EGBN - Get Free Report) last released its quarterly 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). The company had revenue of $73.86 million during the quarter, compared to analysts' expectations 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 anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Monday, May 5th. Eagle Bancorp's payout ratio is -44.00%.

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.