Connor Clark & Lunn Investment Management Ltd. Increases Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 51.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,374 shares of the financial services provider's stock after buying an additional 31,633 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.31% of Eagle Bancorp worth $2,431,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in EGBN. Empowered Funds LLC boosted its stake in Eagle Bancorp by 5.0% during the third quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider's stock valued at $639,000 after buying an additional 1,340 shares during the period. LMR Partners LLP purchased a new stake in Eagle Bancorp during the third quarter valued at about $230,000. Intech Investment Management LLC raised its position in Eagle Bancorp by 13.3% during the third quarter. Intech Investment Management LLC now owns 18,258 shares of the financial services provider's stock valued at $412,000 after purchasing an additional 2,142 shares in the last quarter. Algert Global LLC raised its position in Eagle Bancorp by 146.4% during the third quarter. Algert Global LLC now owns 154,462 shares of the financial services provider's stock valued at $3,488,000 after purchasing an additional 91,782 shares in the last quarter. Finally, FMR LLC raised its position in Eagle Bancorp by 84.9% during the third quarter. FMR LLC now owns 4,785 shares of the financial services provider's stock valued at $108,000 after purchasing an additional 2,197 shares in the last quarter. Institutional investors own 78.03% of the company's stock.

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Analyst Ratings Changes

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

Eagle Bancorp Price Performance

NASDAQ EGBN traded down $0.21 during trading hours on Friday, reaching $21.37. 762,674 shares of the stock traded hands, compared to its average volume of 297,274. The stock has a 50 day simple moving average of $23.95 and a two-hundred day simple moving average of $25.05. Eagle Bancorp, Inc. has a 1 year low of $15.99 and a 1 year high of $30.94. 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 company has a market cap of $645.46 million, a price-to-earnings ratio of -13.61 and a beta of 1.08.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate 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, analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $0.165 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.66 annualized dividend and a dividend yield of 3.09%. Eagle Bancorp's dividend payout ratio is currently -42.04%.

Insider Transactions at Eagle Bancorp

In related news, CFO Eric R. Newell acquired 1,170 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $21.37 per share, for a total transaction of $25,002.90. Following the completion of the acquisition, the chief financial officer now owns 28,733 shares in the company, valued at approximately $614,024.21. This represents a 4.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.10% 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.