Commonwealth Equity Services LLC Sells 5,783 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Commonwealth Equity Services LLC lessened its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 41.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,086 shares of the financial services provider’s stock after selling 5,783 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Eagle Bancorp were worth $210,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. grew its position in Eagle Bancorp by 51.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 93,374 shares of the financial services provider’s stock valued at $2,431,000 after buying an additional 31,633 shares during the period. Amundi increased its stake in Eagle Bancorp by 192.7% in the fourth quarter. Amundi now owns 15,121 shares of the financial services provider’s stock valued at $371,000 after acquiring an additional 9,955 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Eagle Bancorp during the fourth quarter worth approximately $228,000. Proficio Capital Partners LLC bought a new stake in Eagle Bancorp in the fourth quarter valued at approximately $1,081,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Eagle Bancorp by 353.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 775 shares during the last quarter. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Stock Up 6.3 %

Shares of NASDAQ EGBN opened at $20.35 on Thursday. The stock’s fifty day simple moving average is $22.55 and its two-hundred day simple moving average is $24.93. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Eagle Bancorp, Inc. has a 12-month low of $15.99 and a 12-month high of $30.94. The stock has a market capitalization of $614.65 million, a PE ratio of -12.96 and a beta of 1.04.

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

Eagle Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend was Friday, February 7th. Eagle Bancorp’s dividend payout ratio (DPR) is presently -42.04%.

Insider Activity

In related news, CFO Eric R. Newell acquired 1,170 shares of Eagle Bancorp stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $21.37 per share, for a total transaction of $25,002.90. Following the transaction, the chief financial officer now owns 28,733 shares of the company’s stock, valued at $614,024.21. This represents a 4.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EGBN. Piper Sandler decreased their price target on shares of Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods dropped their target price on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a report on Monday, January 27th.

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.