Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Sold by State Street Corp

State Street Corp lowered its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 9.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,497,516 shares of the financial services provider’s stock after selling 162,826 shares during the period. State Street Corp owned approximately 4.96% of Eagle Bancorp worth $33,814,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in Eagle Bancorp during the 2nd quarter worth $35,000. Point72 DIFC Ltd acquired a new stake in shares of Eagle Bancorp during the third quarter valued at about $48,000. Carmichael Hill & Associates Inc. increased its position in shares of Eagle Bancorp by 36.1% during the second quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 721 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Eagle Bancorp by 102.0% in the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Eagle Bancorp by 49.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 846 shares during the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Stock Up 0.6 %

Shares of Eagle Bancorp stock opened at $26.71 on Friday. The business has a 50-day moving average price of $27.66 and a 200 day moving average price of $22.90. Eagle Bancorp, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $31.51. The firm has a market cap of $806.70 million, a P/E ratio of -19.08 and a beta of 1.09. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.45 by $0.27. The company 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 quarter last year, the firm earned $0.91 EPS. On average, sell-side analysts forecast that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.66 annualized dividend and a yield of 2.47%. Eagle Bancorp’s payout ratio is -47.14%.

Analyst Ratings Changes

Several equities research analysts have issued reports on EGBN shares. Keefe, Bruyette & Woods lifted their price objective on Eagle Bancorp from $25.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Piper Sandler began coverage on shares of Eagle Bancorp in a research note on Monday, October 21st. They set a “neutral” rating and a $27.00 price objective on the stock.

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.