Proficio Capital Partners LLC Purchases New Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Proficio Capital Partners LLC purchased a new stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,544 shares of the financial services provider’s stock, valued at approximately $1,081,000. Proficio Capital Partners LLC owned approximately 0.14% of Eagle Bancorp at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Eagle Bancorp by 3.7% in the third quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock valued at $16,254,000 after acquiring an additional 25,578 shares in the last quarter. Empowered Funds LLC increased its stake in Eagle Bancorp by 5.0% during the third quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock valued at $639,000 after purchasing an additional 1,340 shares during the last quarter. HighTower Advisors LLC increased its stake in Eagle Bancorp by 4.3% during the third quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 450 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Eagle Bancorp by 934.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 26,346 shares of the financial services provider’s stock valued at $686,000 after purchasing an additional 23,800 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Eagle Bancorp by 41.6% during the third quarter. BNP Paribas Financial Markets now owns 55,627 shares of the financial services provider’s stock valued at $1,256,000 after purchasing an additional 16,338 shares during the last quarter. 78.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eagle Bancorp news, CFO Eric R. Newell purchased 1,170 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $21.37 per share, with a total value of $25,002.90. Following the acquisition, the chief financial officer now owns 28,733 shares of the company’s stock, valued at $614,024.21. The trade was a 4.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Eagle Bancorp Stock Down 0.4 %

Eagle Bancorp stock opened at $21.61 on Friday. The company has a 50-day simple moving average of $24.82 and a 200-day simple moving average of $25.05. The firm has a market capitalization of $652.67 million, a P/E ratio of -13.76 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88. Eagle Bancorp, Inc. has a one year low of $15.99 and a one year high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. As a group, equities analysts expect that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Friday, February 7th. Eagle Bancorp’s payout ratio is currently -42.04%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EGBN shares. Piper Sandler lowered their target price on shares of Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods lowered their price target on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, January 27th.

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.