Fmr LLC Purchases 2,197 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Fmr LLC boosted its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 84.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,785 shares of the financial services provider’s stock after buying an additional 2,197 shares during the period. Fmr LLC’s holdings in Eagle Bancorp were worth $108,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carmichael Hill & Associates Inc. grew its position in Eagle Bancorp by 36.1% during 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. Nisa Investment Advisors LLC boosted its stake in shares of Eagle Bancorp by 49.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after buying an additional 846 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Eagle Bancorp by 9.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,007 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 1,112 shares during the period. GAMMA Investing LLC raised its position in Eagle Bancorp by 102.0% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in Eagle Bancorp by 5.0% in the third quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock valued at $639,000 after acquiring an additional 1,340 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Stock Performance

Shares of EGBN stock opened at $26.55 on Tuesday. Eagle Bancorp, Inc. has a one year low of $15.99 and a one year high of $31.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50 day moving average price is $27.71 and its 200-day moving average price is $23.05. The firm has a market cap of $801.86 million, a P/E ratio of -18.96 and a beta of 1.09.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.27. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. The firm had revenue of $180.76 million during the quarter, compared to analyst estimates of $80.31 million. During the same period last year, the business posted $0.91 earnings per share. As a group, equities research analysts predict that Eagle Bancorp, Inc. will post 1.68 EPS for the current year.

Eagle Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 21st were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp’s payout ratio is currently -47.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EGBN shares. Keefe, Bruyette & Woods increased 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, December 4th. Piper Sandler started coverage on Eagle Bancorp in a report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective on the stock. Finally, StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

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.