Cwm LLC Purchases 4,615 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Cwm LLC lifted its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 46.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,491 shares of the financial services provider’s stock after acquiring an additional 4,615 shares during the quarter. Cwm LLC’s holdings in Eagle Bancorp were worth $327,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Eagle Bancorp by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock valued at $101,351,000 after purchasing an additional 126,085 shares during the period. Riverview Trust Co purchased a new position in Eagle Bancorp during the first quarter valued at approximately $26,000. Hennion & Walsh Asset Management Inc. raised its stake in Eagle Bancorp by 19.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 13,386 shares of the financial services provider’s stock worth $314,000 after buying an additional 2,173 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Eagle Bancorp by 14.2% during the first quarter. Principal Financial Group Inc. now owns 178,102 shares of the financial services provider’s stock worth $4,184,000 after buying an additional 22,172 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Eagle Bancorp by 16.4% during the 1st quarter. BNP Paribas Financial Markets now owns 61,311 shares of the financial services provider’s stock valued at $1,440,000 after acquiring an additional 8,620 shares in the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on EGBN. Keefe, Bruyette & Woods boosted their price target on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Piper Sandler started coverage on shares of Eagle Bancorp in a report on Monday. They issued a “neutral” rating and a $27.00 target price for the company.

Eagle Bancorp Price Performance

NASDAQ EGBN opened at $23.15 on Tuesday. The firm’s fifty day simple moving average is $22.02 and its two-hundred day simple moving average is $20.47. The firm has a market capitalization of $698.90 million, a P/E ratio of 9.22 and a beta of 1.09. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.42. Eagle Bancorp, Inc. has a 12-month low of $15.99 and a 12-month high of $31.97.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.34. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. The firm had revenue of $175.06 million for the quarter, compared to the consensus estimate of $80.90 million. During the same period in the previous year, the business earned $0.94 EPS. Analysts forecast that Eagle Bancorp, Inc. will post 1.46 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 21st will be issued a dividend of $0.165 per share. The ex-dividend date is Monday, October 21st. This represents a $0.66 annualized dividend and a dividend yield of 2.85%. Eagle Bancorp’s dividend payout ratio (DPR) is currently 26.29%.

Eagle Bancorp 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.