Royce & Associates LP Sells 19,465 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Royce & Associates LP lessened its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 24.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 60,103 shares of the financial services provider's stock after selling 19,465 shares during the period. Royce & Associates LP owned about 0.20% of Eagle Bancorp worth $1,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of Eagle Bancorp during the second quarter worth about $35,000. GAMMA Investing LLC boosted its stake in shares of Eagle Bancorp by 102.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider's stock valued at $55,000 after buying an additional 1,234 shares during the period. Nisa Investment Advisors LLC lifted its stake in Eagle Bancorp by 49.8% in 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 during the last quarter. Carmichael Hill & Associates Inc. grew its holdings in Eagle Bancorp by 36.1% during the 2nd 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. Finally, Meeder Asset Management Inc. acquired a new position in Eagle Bancorp during the 2nd quarter worth approximately $89,000. Hedge funds and other institutional investors own 78.03% of the company's stock.

Eagle Bancorp Stock Down 0.5 %

Shares of NASDAQ EGBN traded down $0.13 during midday trading on Wednesday, reaching $28.40. 35,193 shares of the company's stock were exchanged, compared to its average volume of 317,181. The stock has a market capitalization of $857.68 million, a PE ratio of -20.38 and a beta of 1.06. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $31.97. 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 business's fifty day moving average price is $24.69 and its two-hundred day moving average price is $21.41.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate 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 positive return on equity of 5.04% and a negative net margin of 5.97%. During the same period last year, the firm earned $0.91 EPS. Analysts forecast that Eagle Bancorp, Inc. will post 1.68 EPS for the current year.

Eagle Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were paid a $0.165 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.66 annualized dividend and a yield of 2.32%. Eagle Bancorp's dividend payout ratio is presently -47.14%.

Analysts Set New Price Targets

A number of research firms have weighed in on EGBN. StockNews.com raised shares of Eagle Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Piper Sandler started coverage on Eagle Bancorp in a report on Monday, October 21st. They set a "neutral" rating and a $27.00 price target on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on Eagle Bancorp from $20.00 to $22.00 and gave the company a "market perform" rating in a report on Monday, July 29th.

Eagle Bancorp 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.