Thrivent Financial for Lutherans Has $1.30 Million Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Thrivent Financial for Lutherans cut its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 38.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,724 shares of the financial services provider's stock after selling 30,670 shares during the quarter. Thrivent Financial for Lutherans owned 0.16% of Eagle Bancorp worth $1,295,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in EGBN. Geode Capital Management LLC boosted its position in Eagle Bancorp by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider's stock worth $16,254,000 after acquiring an additional 25,578 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Eagle Bancorp by 44.5% during the third quarter. JPMorgan Chase & Co. now owns 158,254 shares of the financial services provider's stock worth $3,573,000 after purchasing an additional 48,749 shares during the period. Principal Financial Group Inc. grew its position in Eagle Bancorp by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 146,416 shares of the financial services provider's stock valued at $3,811,000 after purchasing an additional 4,197 shares in the last quarter. Hennessy Advisors Inc. increased its stake in Eagle Bancorp by 16.8% in the 4th quarter. Hennessy Advisors Inc. now owns 146,000 shares of the financial services provider's stock valued at $3,800,000 after buying an additional 21,000 shares during the period. Finally, Rhumbline Advisers lifted its position in Eagle Bancorp by 4.0% in the 4th quarter. Rhumbline Advisers now owns 99,351 shares of the financial services provider's stock worth $2,586,000 after buying an additional 3,810 shares in the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of analysts recently issued reports on EGBN shares. Keefe, Bruyette & Woods reduced their price objective on Eagle Bancorp from $32.00 to $30.00 and set a "market perform" rating for the company in a research report on Monday, January 27th. Piper Sandler lowered their price target on Eagle Bancorp from $31.00 to $27.50 and set a "neutral" rating for the company in a research note on Friday, January 24th.

Insider Transactions at Eagle Bancorp

In other Eagle Bancorp news, CFO Eric R. Newell purchased 1,170 shares of the company's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $21.37 per share, with a total value of $25,002.90. Following the transaction, the chief financial officer now directly owns 28,733 shares in the company, valued at approximately $614,024.21. This represents a 4.24 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Eagle Bancorp Stock Down 7.2 %

Shares of NASDAQ EGBN traded down $1.55 during mid-day trading on Thursday, reaching $19.86. 670,985 shares of the company traded hands, compared to its average volume of 315,250. The company's fifty day moving average is $23.44 and its two-hundred day moving average is $25.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88. Eagle Bancorp, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $30.94. The stock has a market cap of $599.85 million, a PE ratio of -12.65 and a beta of 1.08.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. On average, analysts expect that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, February 7th. Eagle Bancorp's dividend payout ratio is currently -42.04%.

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.