Oppenheimer & Co. Inc. Purchases New Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Oppenheimer & Co. Inc. purchased a new stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,142 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Eagle Bancorp by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock worth $16,254,000 after purchasing an additional 25,578 shares during the period. Empowered Funds LLC increased its position in Eagle Bancorp by 5.0% during 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 during the period. HighTower Advisors LLC increased its position in Eagle Bancorp by 4.3% during the 3rd quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 450 shares during the period. Nisa Investment Advisors LLC increased its position in Eagle Bancorp by 934.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 26,346 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 23,800 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Eagle Bancorp by 41.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 55,627 shares of the financial services provider’s stock worth $1,256,000 after purchasing an additional 16,338 shares during the period. Institutional investors and hedge funds own 78.03% of the company’s stock.

Insider Activity at Eagle Bancorp

In related news, CFO Eric R. Newell bought 1,170 shares of Eagle Bancorp stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $21.37 per share, with a total value of $25,002.90. Following the purchase, the chief financial officer now owns 28,733 shares in the company, valued at $614,024.21. This represents a 4.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is owned by corporate insiders.

Eagle Bancorp Stock Performance

EGBN opened at $21.61 on Monday. The stock has a market cap of $652.71 million, a P/E ratio of -13.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $24.73 and its 200 day simple moving average is $25.13. Eagle Bancorp, Inc. has a 1-year low of $15.99 and a 1-year high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.