HighTower Advisors LLC Acquires 450 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

HighTower Advisors LLC boosted its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,977 shares of the financial services provider’s stock after purchasing an additional 450 shares during the quarter. HighTower Advisors LLC’s holdings in Eagle Bancorp were worth $247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Eagle Bancorp in the second quarter worth $35,000. GAMMA Investing LLC boosted its holdings in shares of Eagle Bancorp by 102.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,234 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Eagle Bancorp by 49.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 846 shares during the last quarter. Carmichael Hill & Associates Inc. boosted its holdings in shares of 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 valued at $51,000 after purchasing an additional 721 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Eagle Bancorp in the second quarter worth about $89,000. 78.03% of the stock is currently owned by institutional investors.

Eagle Bancorp Stock Performance

NASDAQ:EGBN opened at $26.67 on Wednesday. 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 stock’s fifty day moving average is $27.75 and its 200 day moving average is $23.11. The firm has a market capitalization of $805.49 million, a PE ratio of -19.05 and a beta of 1.09. Eagle Bancorp, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $31.38.

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, topping the consensus estimate of $0.45 by $0.27. The firm had revenue of $180.76 million during the quarter, compared to analyst estimates of $80.31 million. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. During the same quarter last year, the business earned $0.91 EPS. On average, sell-side analysts anticipate that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current year.

Eagle Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 21st were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.47%. Eagle Bancorp’s dividend payout ratio is -47.14%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EGBN. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, Piper Sandler started coverage on shares of Eagle Bancorp in a research report on Monday, October 21st. They set a “neutral” rating and a $27.00 target price on the stock.

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.