Thrivent Financial for Lutherans Sells 30,670 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Thrivent Financial for Lutherans decreased its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 38.1% in the fourth quarter, Holdings Channel reports. The fund owned 49,724 shares of the financial services provider’s stock after selling 30,670 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Eagle Bancorp were worth $1,295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EGBN. Smartleaf Asset Management LLC raised its position in Eagle Bancorp by 353.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 775 shares during the period. R Squared Ltd purchased a new stake in Eagle Bancorp during the 4th quarter valued at $51,000. Point72 DIFC Ltd bought a new stake in Eagle Bancorp in the third quarter worth $48,000. GAMMA Investing LLC boosted its stake in Eagle Bancorp by 45.7% during the fourth 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 period. Finally, FMR LLC increased its position in Eagle Bancorp by 84.9% during the third quarter. FMR LLC now owns 4,785 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 2,197 shares during the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Trading Up 0.8 %

NASDAQ EGBN opened at $21.00 on Tuesday. The stock has a market cap of $634.28 million, a PE ratio of -13.38 and a beta of 1.08. Eagle Bancorp, Inc. has a 12 month low of $15.99 and a 12 month high of $30.94. The company’s 50-day moving average price is $23.58 and its 200-day moving average price is $25.12. 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 issued 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 positive return on equity of 4.68% and a negative net margin of 6.65%. Equities research analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.66 annualized dividend and a yield of 3.14%. Eagle Bancorp’s payout ratio is currently -42.04%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Eagle Bancorp

In other news, CFO Eric R. Newell acquired 1,170 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the completion of the acquisition, the chief financial officer now directly owns 28,733 shares of the company’s stock, valued at $614,024.21. The trade was a 4.24 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

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.