ExodusPoint Capital Management LP Reduces Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

ExodusPoint Capital Management LP lessened its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 40.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,509 shares of the financial services provider's stock after selling 33,190 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.16% of Eagle Bancorp worth $1,263,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. FMR LLC lifted its stake in Eagle Bancorp by 84.9% during the 3rd quarter. FMR LLC now owns 4,785 shares of the financial services provider's stock valued at $108,000 after acquiring an additional 2,197 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Eagle Bancorp by 4.3% during the third quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider's stock valued at $247,000 after purchasing an additional 450 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Eagle Bancorp by 479.4% during the third quarter. Point72 Asset Management L.P. now owns 10,800 shares of the financial services provider's stock worth $244,000 after purchasing an additional 8,936 shares during the last quarter. Quantinno Capital Management LP bought a new stake in Eagle Bancorp in the 3rd quarter worth about $238,000. Finally, Jane Street Group LLC grew its position in Eagle Bancorp by 63.9% in the 3rd quarter. Jane Street Group LLC now owns 71,703 shares of the financial services provider's stock worth $1,619,000 after purchasing an additional 27,942 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company's stock.

Insider Activity

In other news, CFO Eric R. Newell acquired 1,170 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the purchase, the chief financial officer now owns 28,733 shares of the company's stock, valued at approximately $614,024.21. The trade was a 4.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.10% of the company's stock.

Eagle Bancorp Stock Performance

NASDAQ EGBN traded up $0.62 during trading hours on Tuesday, reaching $20.03. 41,958 shares of the company were exchanged, compared to its average volume of 323,087. The stock has a market capitalization of $604.84 million, a P/E ratio of -12.72 and a beta of 1.04. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. Eagle Bancorp, Inc. has a 1 year low of $15.99 and a 1 year high of $30.94. The business's 50 day simple moving average is $22.14 and its 200-day simple moving average is $24.89.

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 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, equities research analysts expect that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $0.165 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.66 annualized dividend and a dividend yield of 3.30%. Eagle Bancorp's payout ratio is presently -42.04%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EGBN shares. Keefe, Bruyette & Woods cut their target price on 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. Piper Sandler dropped their price target on Eagle Bancorp from $31.00 to $27.50 and set a "neutral" rating on the stock in a report on Friday, January 24th.

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.