Ameriprise Financial Inc. Lowers Stock Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Ameriprise Financial Inc. decreased its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 14.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 161,155 shares of the financial services provider’s stock after selling 26,238 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.53% of Eagle Bancorp worth $4,195,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Eagle Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,689,423 shares of the financial services provider’s stock valued at $70,006,000 after buying an additional 35,255 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Eagle Bancorp by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider’s stock worth $40,919,000 after purchasing an additional 63,702 shares in the last quarter. Fourthstone LLC lifted its stake in Eagle Bancorp by 382.7% in the 4th quarter. Fourthstone LLC now owns 1,276,653 shares of the financial services provider’s stock worth $33,231,000 after purchasing an additional 1,012,182 shares in the last quarter. North Reef Capital Management LP lifted its stake in Eagle Bancorp by 251.9% in the 4th quarter. North Reef Capital Management LP now owns 967,593 shares of the financial services provider’s stock worth $25,186,000 after purchasing an additional 692,593 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Eagle Bancorp by 14.7% in the 4th quarter. American Century Companies Inc. now owns 648,192 shares of the financial services provider’s stock worth $16,872,000 after purchasing an additional 83,305 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on EGBN. Jefferies Financial Group set a $20.00 price target on shares of Eagle Bancorp and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Piper Sandler decreased their price target on shares of Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th.

Insider Activity at Eagle Bancorp

In other news, CFO Eric R. Newell purchased 1,170 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the acquisition, the chief financial officer now owns 28,733 shares of the company’s stock, valued at approximately $614,024.21. This trade represents a 4.24% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.39% of the stock is currently owned by insiders.

Eagle Bancorp Stock Performance

Eagle Bancorp stock opened at $17.47 on Monday. The company’s 50-day moving average price is $19.55 and its 200-day moving average price is $23.71. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month high of $30.94. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. The company has a market cap of $530.69 million, a PE ratio of -11.13 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.40). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. The business had revenue of $73.86 million during the quarter, compared to the consensus estimate of $71.93 million. On average, equities research analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were issued a $0.165 dividend. The ex-dividend date was Monday, May 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.78%. Eagle Bancorp’s dividend payout ratio (DPR) is presently -44.00%.

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.