Royce & Associates LP Trims Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Royce & Associates LP lessened its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 21.3% in the 4th quarter, HoldingsChannel reports. The firm owned 47,322 shares of the financial services provider’s stock after selling 12,781 shares during the quarter. Royce & Associates LP’s holdings in Eagle Bancorp were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Eagle Bancorp by 51.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 93,374 shares of the financial services provider’s stock valued at $2,431,000 after buying an additional 31,633 shares during the last quarter. Amundi boosted its position in Eagle Bancorp by 192.7% in the 4th quarter. Amundi now owns 15,121 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 9,955 shares in the last quarter. Arizona State Retirement System acquired a new stake in shares of Eagle Bancorp during the 4th quarter worth approximately $228,000. Proficio Capital Partners LLC purchased a new position in shares of Eagle Bancorp during the 4th quarter valued at approximately $1,081,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Eagle Bancorp by 353.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock worth $26,000 after buying an additional 775 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Piper Sandler cut their price objective on shares of Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a report on Friday, January 24th. Keefe, Bruyette & Woods dropped their price objective 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.

Insider Activity

In other Eagle Bancorp news, CFO Eric R. Newell purchased 1,170 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the completion of the transaction, the chief financial officer now owns 28,733 shares of the company’s stock, valued at $614,024.21. The trade was a 4.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.10% of the company’s stock.

Eagle Bancorp Stock Down 1.3 %

Shares of NASDAQ EGBN opened at $21.58 on Friday. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $30.94. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. The company’s 50-day simple moving average is $23.99 and its 200-day simple moving average is $25.05. The firm has a market cap of $651.80 million, a price-to-earnings ratio of -13.75 and a beta of 1.08.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate 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%. Equities analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.66 annualized dividend and a yield of 3.06%. Eagle Bancorp’s dividend payout ratio (DPR) is presently -42.04%.

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.