HighTower Advisors LLC Purchases 450 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

HighTower Advisors LLC increased its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 4.3% in the third quarter, Holdings Channel reports. The fund owned 10,977 shares of the financial services provider’s stock after purchasing an additional 450 shares during the quarter. HighTower Advisors LLC’s holdings in Eagle Bancorp were worth $247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EGBN. Carmichael Hill & Associates Inc. raised its position in shares of Eagle Bancorp by 36.1% in the 2nd 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 in the last quarter. Nisa Investment Advisors LLC grew its stake in Eagle Bancorp by 49.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 846 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Eagle Bancorp by 9.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,007 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 1,112 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Eagle Bancorp by 102.0% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after buying an additional 1,234 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Eagle Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock valued at $639,000 after buying an additional 1,340 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report 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 target price on the stock. Finally, Keefe, Bruyette & Woods increased their price target on Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Eagle Bancorp Stock Up 0.5 %

EGBN stock opened at $26.67 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. Eagle Bancorp, Inc. has a one year low of $15.99 and a one year high of $31.38. The firm’s fifty day moving average is $27.75 and its 200 day moving average is $23.11. The firm has a market cap of $805.49 million, a PE ratio of -19.05 and a beta of 1.09.

Eagle Bancorp (NASDAQ:EGBN) last announced 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 business had revenue of $180.76 million during the quarter, compared to analysts’ expectations of $80.31 million. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. During the same quarter in the prior year, the firm earned $0.91 earnings per share. On average, 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. Shareholders 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 2.47%. The ex-dividend date was Monday, October 21st. Eagle Bancorp’s dividend payout ratio (DPR) is presently -47.14%.

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.