Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Acquired by Algert Global LLC

Algert Global LLC boosted its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 146.4% in the third quarter, HoldingsChannel.com reports. The firm owned 154,462 shares of the financial services provider’s stock after purchasing an additional 91,782 shares during the quarter. Algert Global LLC’s holdings in Eagle Bancorp were worth $3,488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC grew its holdings in Eagle Bancorp by 13.3% during the third quarter. Intech Investment Management LLC now owns 18,258 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 2,142 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Eagle Bancorp by 328.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 61,741 shares of the financial services provider’s stock valued at $1,394,000 after purchasing an additional 47,327 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Eagle Bancorp in the 3rd quarter worth approximately $230,000. Empowered Funds LLC raised its holdings in shares of Eagle Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock worth $639,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Burt Wealth Advisors acquired a new stake in Eagle Bancorp during the third quarter valued at approximately $315,000. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Trading Up 2.0 %

Eagle Bancorp stock opened at $30.00 on Tuesday. Eagle Bancorp, Inc. has a 52 week low of $15.99 and a 52 week high of $31.97. 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 has a market capitalization of $906 million, a price-to-earnings ratio of -21.43 and a beta of 1.06. The company has a 50 day moving average price of $25.15 and a 200 day moving average price of $21.60.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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 positive return on equity of 5.04% and a negative net margin of 5.97%. During the same period last year, the company posted $0.91 EPS. Research analysts forecast that Eagle Bancorp, Inc. will post 1.68 EPS for the current year.

Eagle Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were paid a $0.165 dividend. The ex-dividend date was Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a yield of 2.20%. Eagle Bancorp’s dividend payout ratio (DPR) is currently -47.14%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price target on Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, July 29th. StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Piper Sandler started coverage on Eagle Bancorp in a research report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price target for the company.

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.