Thrivent Financial for Lutherans Sells 35,345 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Thrivent Financial for Lutherans lowered its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 30.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,394 shares of the financial services provider’s stock after selling 35,345 shares during the quarter. Thrivent Financial for Lutherans owned about 0.27% of Eagle Bancorp worth $1,816,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in EGBN. Carmichael Hill & Associates Inc. boosted its holdings in 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 buying an additional 721 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Eagle Bancorp by 49.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 846 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Eagle Bancorp by 9.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,007 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 1,112 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Eagle Bancorp by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,187 shares of the financial services provider’s stock valued at $710,000 after purchasing an additional 1,152 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in 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 purchasing an additional 1,234 shares during the period. 78.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EGBN has been the subject of several research analyst reports. Piper Sandler initiated coverage on shares of Eagle Bancorp in a report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price target for the company. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

Eagle Bancorp Stock Performance

Shares of EGBN opened at $29.45 on Friday. The firm has a market cap of $889.39 million, a P/E ratio of -21.04 and a beta of 1.06. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month 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’s 50 day moving average price is $25.60 and its two-hundred day moving average price is $21.79.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.27. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. The firm had revenue of $180.76 million during the quarter, compared to analyst estimates of $80.31 million. During the same period in the prior year, the business earned $0.91 EPS. On average, analysts forecast that Eagle Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 21st were issued a dividend of $0.165 per share. The ex-dividend date was Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.24%. Eagle Bancorp’s payout ratio is presently -47.14%.

Eagle Bancorp Company 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.