LMR Partners LLP Invests $230,000 in Eagle Bancorp, Inc. (NASDAQ:EGBN)

LMR Partners LLP bought a new position in Eagle Bancorp, Inc. (NASDAQ:EGBN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,198 shares of the financial services provider’s stock, valued at approximately $230,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EGBN shares. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, Piper Sandler began coverage on Eagle Bancorp in a report on Monday, October 21st. They issued a “neutral” rating and a $27.00 target price for the company.

Eagle Bancorp Price Performance

EGBN stock opened at $28.26 on Thursday. The stock has a market cap of $853.45 million, a PE ratio of -20.19 and a beta of 1.06. Eagle Bancorp, Inc. has a 12 month low of $15.99 and a 12 month high of $31.97. The company has a 50-day moving average price of $24.84 and a 200 day moving average price of $21.46. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.27. The business had revenue of $180.76 million during the quarter, compared to the consensus estimate of $80.31 million. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. During the same quarter last year, the firm earned $0.91 earnings per share. Equities research analysts anticipate that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current year.

Eagle Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.34%. The ex-dividend date was Monday, October 21st. Eagle Bancorp’s dividend payout ratio (DPR) is presently -47.14%.

Eagle Bancorp 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.