Northern Trust Corp Acquires 18,298 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Northern Trust Corp boosted its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 317,422 shares of the financial services provider's stock after acquiring an additional 18,298 shares during the quarter. Northern Trust Corp owned 1.05% of Eagle Bancorp worth $8,262,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC acquired a new stake in Eagle Bancorp during the fourth quarter valued at approximately $1,081,000. Oppenheimer & Co. Inc. acquired a new stake in Eagle Bancorp in the 4th quarter valued at $212,000. Nisa Investment Advisors LLC grew its position in Eagle Bancorp by 934.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 26,346 shares of the financial services provider's stock valued at $686,000 after acquiring an additional 23,800 shares during the period. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 775 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Eagle Bancorp during the fourth quarter valued at $515,000. Institutional investors and hedge funds own 78.03% of the company's stock.

Eagle Bancorp Price Performance

Eagle Bancorp stock traded down $0.13 on Thursday, reaching $17.53. The company's stock had a trading volume of 192,222 shares, compared to its average volume of 330,120. The business's fifty day moving average price is $19.72 and its 200 day moving average price is $23.89. 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 company has a market cap of $532.51 million, a price-to-earnings ratio of -11.17 and a beta of 1.02. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month high of $30.94.

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

Eagle Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were given a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.66 dividend on an annualized basis and a yield of 3.76%. Eagle Bancorp's payout ratio is -44.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EGBN shares. Jefferies Financial Group assumed coverage on shares of Eagle Bancorp in a report on Wednesday. They issued a "hold" rating and a $20.00 target price on the stock. Piper Sandler decreased their price objective on shares of Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a report on Monday, April 28th.

Insider Activity

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, for a total transaction of $25,002.90. Following the transaction, the chief financial officer now 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 Securities & Exchange Commission, which is available at this link. Insiders own 3.39% of the company's stock.

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.