Hotchkis & Wiley Capital Management LLC Lowers Stock Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Hotchkis & Wiley Capital Management LLC cut its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 10.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 620,480 shares of the financial services provider's stock after selling 71,300 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 2.05% of Eagle Bancorp worth $14,010,000 as of its most recent filing with the Securities and Exchange Commission.

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 Eagle Bancorp during the 2nd quarter worth approximately $35,000. GAMMA Investing LLC lifted its position 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 worth $55,000 after purchasing an additional 1,234 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Eagle Bancorp by 49.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider's stock worth $57,000 after purchasing an additional 846 shares during the period. Carmichael Hill & Associates Inc. lifted its position in shares of Eagle Bancorp by 36.1% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider's stock worth $51,000 after purchasing an additional 721 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Eagle Bancorp during the second quarter worth $89,000. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Stock Performance

EGBN traded up $0.27 during trading on Wednesday, hitting $29.48. 249,197 shares of the company traded hands, compared to its average volume of 312,594. The firm has a market cap of $890.35 million, a P/E ratio of -21.06 and a beta of 1.09. The stock's fifty day moving average is $26.28 and its 200 day moving average is $22.11. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. Eagle Bancorp, Inc. has a one year low of $15.99 and a one year high of $31.97.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.27. The firm had revenue of $180.76 million during the quarter, compared to analyst estimates 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 quarter last year, the business earned $0.91 earnings per share. As a group, equities analysts predict that Eagle Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of Eagle Bancorp in a report on Monday, October 21st. They set a "neutral" rating and a $27.00 price objective on the stock. StockNews.com upgraded shares of Eagle Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Eagle Bancorp from $25.00 to $32.00 and gave the stock a "market perform" rating in a research note on Wednesday.

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.