North Reef Capital Management LP Buys 692,593 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

North Reef Capital Management LP raised its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 251.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 967,593 shares of the financial services provider's stock after acquiring an additional 692,593 shares during the period. Eagle Bancorp makes up approximately 1.1% of North Reef Capital Management LP's holdings, making the stock its 22nd biggest holding. North Reef Capital Management LP owned approximately 3.20% of Eagle Bancorp worth $25,186,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Eagle Bancorp by 353.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock worth $26,000 after buying an additional 775 shares during the period. R Squared Ltd bought a new position in Eagle Bancorp during the 4th quarter worth about $51,000. Millstone Evans Group LLC purchased a new position in Eagle Bancorp during the fourth quarter valued at approximately $59,000. Russell Investments Group Ltd. lifted its stake in shares of Eagle Bancorp by 42.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock worth $82,000 after purchasing an additional 933 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Eagle Bancorp by 45.7% in the 4th quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider's stock valued at $93,000 after buying an additional 1,116 shares in the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eagle Bancorp

In related news, CFO Eric R. Newell acquired 1,170 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average price of $21.37 per share, with a total value of $25,002.90. Following the completion of the purchase, the chief financial officer now owns 28,733 shares of the company's stock, valued at approximately $614,024.21. This represents a 4.24 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.10% of the company's stock.

Eagle Bancorp Stock Down 11.4 %

Eagle Bancorp stock opened at $18.78 on Friday. Eagle Bancorp, Inc. has a 12 month low of $15.99 and a 12 month high of $30.94. The stock has a market capitalization of $570.35 million, a PE ratio of -11.96 and a beta of 1.04. 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 business has a 50 day simple moving average of $21.23 and a 200-day simple moving average of $24.71.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.40). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. The firm had revenue of $73.86 million for the quarter, compared to analysts' expectations of $71.93 million. On average, analysts anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Monday, May 5th will be issued a $0.165 dividend. The ex-dividend date is Monday, May 5th. This represents a $0.66 dividend on an annualized basis and a yield of 3.51%. Eagle Bancorp's payout ratio is -42.04%.

Wall Street Analyst Weigh In

EGBN has been the topic of a number of research analyst reports. Piper Sandler cut their price objective on shares of Eagle Bancorp from $31.00 to $27.50 and set a "neutral" rating on the stock in a report on Friday, January 24th. Keefe, Bruyette & Woods decreased their price objective on Eagle Bancorp from $32.00 to $30.00 and set a "market perform" rating for the company in a report on Monday, January 27th.

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.

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