Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 6.1% during the third quarter, Holdings Channel reports. The firm owned 17,009 shares of the financial services provider’s stock after selling 1,103 shares during the period. MetLife Investment Management LLC’s holdings in Eagle Bancorp were worth $384,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EGBN. Point72 Asset Management L.P. purchased a new position in shares of Eagle Bancorp during the second quarter worth about $35,000. GAMMA Investing LLC grew its stake in Eagle Bancorp by 102.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock worth $55,000 after buying an additional 1,234 shares during the last quarter. Nisa Investment Advisors LLC increased 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 worth $57,000 after buying an additional 846 shares during the period. Carmichael Hill & Associates Inc. grew its position in shares of Eagle Bancorp by 36.1% during the second quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 721 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Eagle Bancorp in the 2nd quarter valued at $89,000. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Price Performance

Shares of NASDAQ:EGBN opened at $29.26 on Monday. Eagle Bancorp, Inc. has a 52 week low of $15.99 and a 52 week high of $31.97. The company has a 50-day moving average price of $26.57 and a 200 day moving average price of $22.25. The company has a market cap of $883.71 million, a P/E ratio of -20.90 and a beta of 1.09. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.27. The company had revenue of $180.76 million for the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.91 earnings per share. Research analysts predict that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current year.

Eagle Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp’s dividend payout ratio (DPR) is presently -47.14%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Piper Sandler initiated coverage on Eagle Bancorp in a research note on Monday, October 21st. They issued a “neutral” rating and a $27.00 target price on the stock.

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.