Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Sold by Quest Partners LLC

Quest Partners LLC trimmed its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 83.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,631 shares of the financial services provider's stock after selling 62,619 shares during the period. Quest Partners LLC's holdings in Eagle Bancorp were worth $285,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Point72 Asset Management L.P. purchased a new position in Eagle Bancorp in the 2nd quarter valued at about $35,000. Carmichael Hill & Associates Inc. lifted its position in shares of Eagle Bancorp by 36.1% in the second quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 721 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Eagle Bancorp by 102.0% in 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 during 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 purchasing an additional 846 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Eagle Bancorp in the 2nd quarter valued at $89,000. Institutional investors and hedge funds own 78.03% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on EGBN. Piper Sandler began coverage on shares of Eagle Bancorp in a research note on Monday, October 21st. They set a "neutral" rating and a $27.00 target price on the stock. StockNews.com upgraded shares of Eagle Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of 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 Trading Down 1.7 %

Shares of EGBN traded down $0.52 during mid-day trading on Tuesday, reaching $29.48. The stock had a trading volume of 134,329 shares, compared to its average volume of 315,077. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $31.97. The firm has a market cap of $890.35 million, a price-to-earnings ratio of -21.15 and a beta of 1.06. The business's fifty day moving average is $25.32 and its 200 day moving average is $21.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86.

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

Eagle Bancorp Cuts Dividend

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