Arizona State Retirement System Acquires Shares of 8,745 Eagle Bancorp, Inc. (NASDAQ:EGBN)

Arizona State Retirement System bought a new position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,745 shares of the financial services provider’s stock, valued at approximately $228,000.

A number of other institutional investors have also recently modified their holdings of EGBN. Smartleaf Asset Management LLC raised its holdings in Eagle Bancorp by 353.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 775 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Eagle Bancorp in the third quarter valued at approximately $48,000. R Squared Ltd purchased a new position in shares of Eagle Bancorp during the 4th quarter valued at approximately $51,000. GAMMA Investing LLC grew its stake in Eagle Bancorp by 45.7% in the 4th quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 1,116 shares during the period. Finally, FMR LLC increased its holdings in Eagle Bancorp by 84.9% in the 3rd quarter. FMR LLC now owns 4,785 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 2,197 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bancorp Trading Up 2.4 %

Shares of EGBN opened at $21.25 on Friday. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $30.94. The stock has a market cap of $641.84 million, a PE ratio of -13.54 and a beta of 1.08. The firm’s fifty day moving average is $24.24 and its two-hundred day moving average is $25.08. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last posted 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%. Research analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $0.165 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.66 annualized dividend and a dividend yield of 3.11%. Eagle Bancorp’s dividend payout ratio is presently -42.04%.

Wall Street Analyst Weigh In

EGBN has been the topic of several research analyst reports. Piper Sandler dropped their target price on shares of Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Keefe, Bruyette & Woods cut their price objective on Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Monday, January 27th.

Insider Buying and Selling

In related news, CFO Eric R. Newell bought 1,170 shares of the company’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the acquisition, the chief financial officer now directly 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 filing with the SEC, which is available at the SEC website. 3.10% of the stock is currently owned by company insiders.

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.