Alpine Global Management LLC Takes Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Alpine Global Management LLC acquired a new stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,745 shares of the financial services provider's stock, valued at approximately $358,000.

A number of other large investors also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Eagle Bancorp by 3.7% during the third quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider's stock worth $16,254,000 after purchasing an additional 25,578 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Eagle Bancorp by 4.3% during the 3rd quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider's stock valued at $247,000 after buying an additional 450 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Eagle Bancorp during the fourth quarter worth $1,081,000. Oppenheimer & Co. Inc. acquired a new position in Eagle Bancorp during the fourth quarter valued at approximately $212,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of 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 worth $686,000 after purchasing an additional 23,800 shares during the period. 78.03% of the stock is currently owned by institutional investors.

Eagle Bancorp Price Performance

Shares of EGBN stock opened at $18.78 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.86. The stock's fifty day simple moving average is $21.23 and its 200 day simple moving average is $24.71. Eagle Bancorp, Inc. has a one year low of $15.99 and a one year high of $30.94. The firm has a market cap of $570.35 million, a price-to-earnings ratio of -11.96 and a beta of 1.04.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.40). The business had revenue of $73.86 million during the quarter, compared to the consensus estimate of $71.93 million. Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. On average, analysts expect that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, May 5th. Eagle Bancorp's dividend payout ratio is currently -42.04%.

Analyst Ratings Changes

EGBN has been the subject of several research reports. Piper Sandler reduced their target price on shares of Eagle Bancorp from $31.00 to $27.50 and set a "neutral" rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods decreased their price target on shares of Eagle Bancorp from $32.00 to $30.00 and set a "market perform" rating on the stock in a research note on Monday, January 27th.

Insider Activity at Eagle Bancorp

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

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.