Walleye Capital LLC Sells 24,266 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Walleye Capital LLC reduced its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 25.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,485 shares of the financial services provider's stock after selling 24,266 shares during the quarter. Walleye Capital LLC owned 0.23% of Eagle Bancorp worth $1,569,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in EGBN. Price T Rowe Associates Inc. MD lifted its stake in shares of Eagle Bancorp by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,187 shares of the financial services provider's stock worth $710,000 after acquiring an additional 1,152 shares during the period. CWM LLC lifted its position in Eagle Bancorp by 78.8% in the second quarter. CWM LLC now owns 9,876 shares of the financial services provider's stock worth $187,000 after purchasing an additional 4,351 shares during the period. SG Americas Securities LLC boosted its stake in Eagle Bancorp by 15.8% during the 2nd quarter. SG Americas Securities LLC now owns 21,885 shares of the financial services provider's stock valued at $414,000 after purchasing an additional 2,990 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Eagle Bancorp by 12.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 14,995 shares of the financial services provider's stock valued at $283,000 after purchasing an additional 1,609 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Eagle Bancorp by 122.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,917 shares of the financial services provider's stock valued at $131,000 after buying an additional 3,804 shares in the last quarter. Institutional investors own 78.03% of the company's stock.

Eagle Bancorp Price Performance

NASDAQ:EGBN traded down $0.13 during trading hours on Thursday, hitting $29.35. 48,150 shares of the company's stock traded hands, compared to its average volume of 311,449. The stock's fifty day moving average price is $26.28 and its two-hundred day moving average price 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 twelve month low of $15.99 and a twelve month 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, beating analysts' consensus estimates of $0.45 by $0.27. The company had revenue of $180.76 million for the quarter, compared to the consensus estimate of $80.31 million. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. During the same quarter in the prior year, the company earned $0.91 EPS. On average, sell-side analysts forecast that Eagle Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 21st were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Monday, October 21st. Eagle Bancorp's dividend payout ratio is currently -47.14%.

Wall Street Analyst Weigh In

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

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.