Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 69.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,418 shares of the financial services provider's stock after purchasing an additional 73,378 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.59% of Eagle Bancorp worth $4,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC boosted its holdings in Eagle Bancorp by 4.3% in the third quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider's stock worth $247,000 after acquiring an additional 450 shares in the last quarter. LPL Financial LLC raised its stake in shares of Eagle Bancorp by 2.4% during the 4th 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. Ieq Capital LLC raised its holdings 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 worth $539,000 after purchasing an additional 667 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Eagle Bancorp by 353.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock valued at $26,000 after buying an additional 775 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Eagle Bancorp by 45.7% during the fourth quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 1,116 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on EGBN shares. Keefe, Bruyette & Woods cut their price objective on shares of Eagle Bancorp from $32.00 to $30.00 and set a "market perform" rating for the company in a research report on Monday, January 27th. Piper Sandler decreased their price objective on Eagle Bancorp from $31.00 to $27.50 and set a "neutral" rating on the stock in a report on Friday, January 24th.

Insider Activity

In other news, CFO Eric R. Newell bought 1,170 shares of the stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the acquisition, the chief financial officer now owns 28,733 shares of the company's stock, valued at $614,024.21. This represents a 4.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.10% of the company's stock.

Eagle Bancorp Stock Down 1.7 %

EGBN stock traded down $0.32 during trading on Friday, hitting $18.97. 370,150 shares of the stock traded hands, compared to its average volume of 323,671. The stock has a market cap of $572.97 million, a price-to-earnings ratio of -12.08 and a beta of 1.04. 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 firm's 50 day moving average is $22.29 and its two-hundred day moving average is $24.89. Eagle Bancorp, Inc. has a 1 year low of $15.99 and a 1 year high of $30.94.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. On average, sell-side analysts anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Friday, February 7th. Eagle Bancorp's dividend payout ratio is currently -42.04%.

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.