Hennessy Advisors Inc. Raises Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Hennessy Advisors Inc. grew its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 16.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,000 shares of the financial services provider’s stock after acquiring an additional 21,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Eagle Bancorp were worth $3,800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of EGBN. Point72 Asset Management L.P. acquired a new position in Eagle Bancorp during the 2nd quarter valued at approximately $35,000. Point72 DIFC Ltd acquired a new stake in shares of Eagle Bancorp during the third quarter worth $48,000. GAMMA Investing LLC grew its holdings in shares of Eagle Bancorp by 102.0% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after buying an additional 1,234 shares during the last quarter. Nisa Investment Advisors LLC increased its position 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 valued at $57,000 after acquiring an additional 846 shares during the period. Finally, FMR LLC raised its stake 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 during the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

Eagle Bancorp Price Performance

NASDAQ:EGBN opened at $24.64 on Friday. The firm’s fifty day moving average is $27.47 and its two-hundred day moving average is $24.02. The firm has a market cap of $744.13 million, a price-to-earnings ratio of -17.60 and a beta of 1.10. Eagle Bancorp, Inc. has a one year low of $15.99 and a one year high of $30.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.45 by $0.27. The firm had revenue of $180.76 million for the quarter, compared to analyst estimates of $80.31 million. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. During the same period last year, the company earned $0.91 earnings per share. Research analysts expect that Eagle Bancorp, Inc. will post 1.9 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Piper Sandler started coverage on Eagle Bancorp in a research report on Monday, October 21st. They issued a “neutral” rating and a $27.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised their price target on shares of Eagle Bancorp from $25.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.