Semanteon Capital Management LP Takes $1.02 Million Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Semanteon Capital Management LP acquired a new position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 39,095 shares of the financial services provider’s stock, valued at approximately $1,018,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EGBN. Geode Capital Management LLC lifted its stake in shares of Eagle Bancorp by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock valued at $16,254,000 after acquiring an additional 25,578 shares during the last quarter. Fourthstone LLC acquired a new stake in shares of Eagle Bancorp during the third quarter valued at about $5,972,000. JPMorgan Chase & Co. boosted its position in Eagle Bancorp by 44.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 158,254 shares of the financial services provider’s stock worth $3,573,000 after buying an additional 48,749 shares during the period. Algert Global LLC increased its position in Eagle Bancorp by 146.4% in the 3rd quarter. Algert Global LLC now owns 154,462 shares of the financial services provider’s stock valued at $3,488,000 after acquiring an additional 91,782 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Eagle Bancorp by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 146,416 shares of the financial services provider’s stock worth $3,811,000 after purchasing an additional 4,197 shares during the period. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Price Performance

Shares of NASDAQ EGBN opened at $21.58 on Friday. Eagle Bancorp, Inc. has a 1-year low of $15.99 and a 1-year high of $30.94. The firm has a market capitalization of $651.80 million, a P/E ratio of -13.75 and a beta of 1.08. The firm’s 50-day moving average price is $23.99 and its 200-day moving average price is $25.05. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last released 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 negative net margin of 6.65% and a positive return on equity of 4.68%. Equities research analysts anticipate that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, February 7th. Eagle Bancorp’s dividend payout ratio is currently -42.04%.

Insider Transactions at Eagle Bancorp

In related news, CFO Eric R. Newell purchased 1,170 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $21.37 per share, with a total value of $25,002.90. Following the transaction, the chief financial officer now owns 28,733 shares of the company’s stock, valued at $614,024.21. This represents a 4.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EGBN shares. Piper Sandler decreased their price target on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods dropped their target price on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating on the stock in a report on Monday, January 27th.

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.