Thrivent Financial for Lutherans Sells 35,345 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Thrivent Financial for Lutherans lessened its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 30.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 80,394 shares of the financial services provider’s stock after selling 35,345 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Eagle Bancorp were worth $1,816,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EGBN. Point72 Asset Management L.P. acquired a new position in Eagle Bancorp in the 2nd quarter valued at $35,000. GAMMA Investing LLC grew its position 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 worth $55,000 after buying an additional 1,234 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Eagle Bancorp by 49.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 846 shares during the period. Carmichael Hill & Associates Inc. lifted its position in 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 purchasing an additional 721 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Eagle Bancorp in the 2nd quarter valued at approximately $89,000. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Stock Down 0.1 %

Shares of NASDAQ:EGBN opened at $29.45 on Friday. The firm has a market cap of $889.39 million, a P/E ratio of -21.04 and a beta of 1.06. The business has a fifty day simple moving average of $25.60 and a 200 day simple moving average of $21.79. 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, Inc. has a 12-month low of $15.99 and a 12-month high of $31.97.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data 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. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. The company had revenue of $180.76 million during the quarter, compared to analysts’ expectations of $80.31 million. During the same period in the prior year, the company posted $0.91 earnings per share. Analysts predict that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current year.

Eagle Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 21st were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp’s dividend payout ratio (DPR) is currently -47.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on EGBN shares. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Piper Sandler started coverage on Eagle Bancorp in a research note on Monday, October 21st. They set a “neutral” rating and a $27.00 price target on the stock.

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.