Nuveen Asset Management LLC Lowers Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Nuveen Asset Management LLC cut its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 40.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,903 shares of the financial services provider's stock after selling 264,444 shares during the period. Nuveen Asset Management LLC owned about 1.30% of Eagle Bancorp worth $10,201,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. LPL Financial LLC grew its stake in shares of Eagle Bancorp by 2.4% during the fourth quarter. LPL Financial LLC now owns 20,246 shares of the financial services provider's stock worth $527,000 after purchasing an additional 467 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Eagle Bancorp by 3.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,801 shares of the financial services provider's stock worth $437,000 after buying an additional 488 shares during the period. Ieq Capital LLC increased its stake in shares of Eagle Bancorp by 3.3% in the 4th quarter. Ieq Capital LLC now owns 20,724 shares of the financial services provider's stock valued at $539,000 after acquiring an additional 667 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Eagle Bancorp by 353.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 775 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in 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 acquiring an additional 933 shares during the last quarter. 78.03% of the stock is currently owned by institutional investors.

Eagle Bancorp Price Performance

EGBN stock traded up $0.02 during mid-day trading on Friday, hitting $17.62. The stock had a trading volume of 342,853 shares, compared to its average volume of 328,197. The firm has a fifty day simple moving average of $19.13 and a 200 day simple moving average of $23.30. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Eagle Bancorp, Inc. has a 52 week low of $15.99 and a 52 week high of $30.94. The firm has a market capitalization of $535.24 million, a P/E ratio of -11.22 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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. As a group, research analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current 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. This represents a $0.66 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Monday, May 5th. Eagle Bancorp's payout ratio is -44.00%.

Insider Activity at Eagle Bancorp

In related news, CFO Eric R. Newell bought 1,170 shares of the business's stock in a transaction on Friday, March 7th. The stock was acquired 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 $614,024.21. This trade represents a 4.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.39% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on EGBN. Piper Sandler lowered their price target on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price 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. Finally, Jefferies Financial Group set a $20.00 target price on shares of Eagle Bancorp and gave the stock a "hold" rating in a report on Wednesday, May 21st.

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.