Thrivent Financial for Lutherans Cuts Position in Eagle Bancorp, Inc. $EGBN

Thrivent Financial for Lutherans decreased its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 68.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,937 shares of the financial services provider’s stock after selling 44,010 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of Eagle Bancorp worth $403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC acquired a new stake in shares of Eagle Bancorp in the 3rd quarter valued at $806,000. Versant Capital Management Inc raised its stake in Eagle Bancorp by 102.2% in the third quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock valued at $30,000 after buying an additional 753 shares in the last quarter. Sippican Capital Advisors lifted its holdings in Eagle Bancorp by 191.5% during the 3rd quarter. Sippican Capital Advisors now owns 37,760 shares of the financial services provider’s stock worth $764,000 after buying an additional 24,805 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Eagle Bancorp by 143.6% during the 3rd quarter. SG Americas Securities LLC now owns 20,408 shares of the financial services provider’s stock worth $413,000 after buying an additional 12,032 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new position in shares of Eagle Bancorp during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Insider Activity

In other Eagle Bancorp news, Director Louis P. Jr. Mathews acquired 1,500 shares of the stock in a transaction on Friday, November 21st. The shares were bought at an average price of $17.20 per share, with a total value of $25,800.00. Following the acquisition, the director owned 10,157 shares of the company’s stock, valued at $174,700.40. This trade represents a 17.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EGBN. Zacks Research upgraded Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Piper Sandler boosted their price objective on shares of Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, January 21st. Finally, UBS Group set a $25.00 price target on shares of Eagle Bancorp in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.60.

Eagle Bancorp Trading Up 0.6%

Shares of EGBN stock opened at $26.41 on Wednesday. The company has a market capitalization of $802.10 million, a P/E ratio of -6.27 and a beta of 1.04. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $23.62 and its two-hundred day moving average is $20.56. Eagle Bancorp, Inc. has a twelve month low of $15.03 and a twelve month high of $29.26.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.37. Eagle Bancorp had a negative return on equity of 10.91% and a negative net margin of 20.19%.The business had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $67.81 million. Equities analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Eagle Bancorp’s payout ratio is presently -0.95%.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company’s product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.