Fourthstone LLC Acquires New Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Fourthstone LLC purchased a new position in Eagle Bancorp, Inc. (NASDAQ:EGBN) during the 3rd quarter, Holdings Channel reports. The fund purchased 264,471 shares of the financial services provider’s stock, valued at approximately $5,972,000. Eagle Bancorp makes up 1.3% of Fourthstone LLC’s portfolio, making the stock its 20th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in Eagle Bancorp in the 2nd quarter worth about $35,000. Carmichael Hill & Associates Inc. raised its position in Eagle Bancorp by 36.1% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 721 shares in the last quarter. GAMMA Investing LLC raised its position in Eagle Bancorp by 102.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,234 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Eagle Bancorp by 49.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after buying an additional 846 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of Eagle Bancorp during the second quarter valued at $89,000. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Stock Performance

Shares of NASDAQ:EGBN traded down $0.03 during trading on Thursday, hitting $29.45. 128,963 shares of the stock traded hands, compared to its average volume of 314,295. The company has a market cap of $889.39 million, a price-to-earnings ratio of -21.04 and a beta of 1.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average price of $25.60 and a two-hundred day moving average price of $21.79. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $31.97.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data 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 company had revenue of $180.76 million during the quarter, compared to analysts’ expectations of $80.31 million. During the same period in the prior year, the business posted $0.91 earnings per share. As a group, equities analysts predict that Eagle Bancorp, Inc. will post 1.68 EPS for the current 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 given a $0.165 dividend. The ex-dividend date was Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a yield of 2.24%. Eagle Bancorp’s dividend payout ratio is currently -47.14%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EGBN shares. Piper Sandler initiated coverage on shares of Eagle Bancorp in a report on Monday, October 21st. They set a “neutral” rating and a $27.00 target price on the stock. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 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.