Quest Partners LLC Decreases Stock Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Quest Partners LLC lowered its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 83.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,631 shares of the financial services provider’s stock after selling 62,619 shares during the period. Quest Partners LLC’s holdings in Eagle Bancorp were worth $285,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Eagle Bancorp by 13.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,409,440 shares of the financial services provider’s stock valued at $26,637,000 after buying an additional 169,621 shares during the period. AQR Capital Management LLC increased its stake in shares of Eagle Bancorp by 53.2% during the 2nd quarter. AQR Capital Management LLC now owns 539,186 shares of the financial services provider’s stock worth $10,191,000 after purchasing an additional 187,249 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Eagle Bancorp by 16.5% in the 2nd quarter. American Century Companies Inc. now owns 510,770 shares of the financial services provider’s stock worth $9,654,000 after purchasing an additional 72,415 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Eagle Bancorp in the second quarter valued at approximately $2,989,000. Finally, Thrivent Financial for Lutherans grew its holdings in Eagle Bancorp by 39.9% during the second quarter. Thrivent Financial for Lutherans now owns 115,739 shares of the financial services provider’s stock valued at $2,188,000 after purchasing an additional 33,021 shares during the period. 78.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EGBN has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their price target on Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Piper Sandler initiated coverage on shares of Eagle Bancorp in a research report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price target on the stock.

Eagle Bancorp Price Performance

Eagle Bancorp stock opened at $30.00 on Tuesday. The firm has a market capitalization of $906 million, a P/E ratio of -21.43 and a beta of 1.06. Eagle Bancorp, Inc. has a one year low of $15.99 and a one year high of $31.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $25.15 and a 200-day moving average price of $21.60.

Eagle Bancorp (NASDAQ:EGBN) last issued 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. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. The business had revenue of $180.76 million during the quarter, compared to the consensus estimate of $80.31 million. During the same quarter last year, the company earned $0.91 EPS. As a group, equities research analysts forecast that Eagle Bancorp, Inc. will post 1.68 EPS for the current year.

Eagle Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 21st were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp’s dividend payout ratio (DPR) is presently -47.14%.

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.