Hennion & Walsh Asset Management Inc. Sells 917 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Hennion & Walsh Asset Management Inc. trimmed its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,078 shares of the financial services provider’s stock after selling 917 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Eagle Bancorp were worth $318,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Texas Permanent School Fund Corp increased its holdings in shares of Eagle Bancorp by 2.0% in the first quarter. Texas Permanent School Fund Corp now owns 26,191 shares of the financial services provider’s stock worth $615,000 after purchasing an additional 515 shares during the last quarter. Carmichael Hill & Associates Inc. increased its stake 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 acquiring an additional 721 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in Eagle Bancorp by 5.1% during the first quarter. Illinois Municipal Retirement Fund now owns 18,028 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 870 shares during the last quarter. XML Financial LLC increased its stake in Eagle Bancorp by 4.7% during the first quarter. XML Financial LLC now owns 19,986 shares of the financial services provider’s stock worth $469,000 after acquiring an additional 900 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Eagle Bancorp by 9.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,007 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 1,112 shares during the last quarter. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Trading Down 0.3 %

EGBN opened at $26.54 on Wednesday. The stock has a market cap of $801.24 million, a price-to-earnings ratio of 10.57 and a beta of 1.09. The stock’s 50 day moving average price is $22.68 and its 200-day moving average price is $20.62. 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 1.42, a quick ratio of 1.02 and a current ratio of 1.02.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.27. The firm had revenue of $180.76 million for the quarter, compared to analysts’ expectations of $80.31 million. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, equities analysts forecast that Eagle Bancorp, Inc. will post 1.56 EPS for the current year.

Eagle Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 21st will be issued a $0.165 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.49%. Eagle Bancorp’s payout ratio is 26.29%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EGBN. Piper Sandler began coverage on Eagle Bancorp in a research note on Monday, October 21st. They set a “neutral” rating and a $27.00 price objective on the stock. Keefe, Bruyette & Woods boosted their price objective on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Finally, StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

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.