Gamco Investors INC. ET AL Reduces Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Gamco Investors INC. ET AL trimmed its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 278,750 shares of the financial services provider’s stock after selling 26,800 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Eagle Bancorp were worth $7,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in shares of Eagle Bancorp by 353.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 775 shares during the period. R Squared Ltd purchased a new position in Eagle Bancorp during the 4th quarter valued at about $51,000. Millstone Evans Group LLC bought a new position in Eagle Bancorp during the 4th quarter valued at approximately $59,000. Russell Investments Group Ltd. lifted its holdings in Eagle Bancorp by 42.0% in the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider’s stock worth $82,000 after buying an additional 933 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Eagle Bancorp by 45.7% in the 4th quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider’s stock worth $93,000 after buying an additional 1,116 shares during the last quarter. 78.03% of the stock is currently owned by institutional investors.

Eagle Bancorp Stock Up 0.7 %

Shares of NASDAQ:EGBN opened at $20.10 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $30.94. The firm has a market capitalization of $607.10 million, a P/E ratio of -12.80 and a beta of 1.04. The stock has a 50 day moving average price of $21.88 and a 200-day moving average price of $24.82.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $0.165 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.28%. Eagle Bancorp’s dividend payout ratio is currently -42.04%.

Analysts Set New Price Targets

A number of equities analysts recently commented on EGBN shares. Piper Sandler decreased their target price on 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 target price on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, January 27th.

Insider Activity at Eagle Bancorp

In related news, CFO Eric R. Newell purchased 1,170 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $21.37 per share, with a total value of $25,002.90. Following the transaction, the chief financial officer now directly owns 28,733 shares in the company, valued at $614,024.21. This trade represents a 4.24 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by corporate 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.