Algert Global LLC Increases Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Algert Global LLC lifted its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 146.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,462 shares of the financial services provider's stock after acquiring an additional 91,782 shares during the period. Algert Global LLC owned approximately 0.51% of Eagle Bancorp worth $3,488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in shares of Eagle Bancorp during the second quarter worth about $35,000. Carmichael Hill & Associates Inc. increased its position in shares of Eagle Bancorp by 36.1% during the second quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider's stock worth $51,000 after acquiring an additional 721 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Eagle Bancorp by 102.0% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider's stock worth $55,000 after acquiring an additional 1,234 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Eagle Bancorp by 49.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider's stock worth $57,000 after acquiring an additional 846 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Eagle Bancorp during the second quarter worth about $89,000. 78.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Eagle Bancorp in a research report on Monday, October 21st. They issued a "neutral" rating and a $27.00 price objective for the company. StockNews.com raised shares of Eagle Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the stock a "market perform" rating in a research report on Monday, July 29th.

Eagle Bancorp Stock Performance

EGBN traded down $0.52 during midday trading on Tuesday, reaching $29.48. The company had a trading volume of 140,614 shares, compared to its average volume of 315,077. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $890.35 million, a PE ratio of -21.15 and a beta of 1.06. Eagle Bancorp, Inc. has a 12-month low of $15.99 and a 12-month high of $31.97. The business has a 50-day moving average price of $25.32 and a two-hundred day moving average price of $21.67.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.27. The firm had revenue of $180.76 million for the quarter, compared to analysts' expectations of $80.31 million. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. During the same period in the previous year, the company earned $0.91 earnings per share. On average, sell-side analysts expect that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 21st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp's payout ratio is currently -47.14%.

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.