Fourthstone LLC Increases Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Fourthstone LLC grew its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 382.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,276,653 shares of the financial services provider’s stock after purchasing an additional 1,012,182 shares during the quarter. Eagle Bancorp comprises approximately 6.5% of Fourthstone LLC’s investment portfolio, making the stock its 5th largest position. Fourthstone LLC owned approximately 4.23% of Eagle Bancorp worth $33,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EGBN. JPMorgan Chase & Co. raised its stake in Eagle Bancorp by 69.5% during the fourth quarter. JPMorgan Chase & Co. now owns 268,214 shares of the financial services provider’s stock worth $6,982,000 after buying an additional 109,960 shares during the last quarter. American Century Companies Inc. grew its holdings in Eagle Bancorp by 14.7% during the 4th quarter. American Century Companies Inc. now owns 648,192 shares of the financial services provider’s stock worth $16,872,000 after acquiring an additional 83,305 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Eagle Bancorp by 69.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 178,418 shares of the financial services provider’s stock worth $4,644,000 after acquiring an additional 73,378 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Eagle Bancorp in the 4th quarter worth about $1,081,000. Finally, Angel Oak Capital Advisors LLC acquired a new position in shares of Eagle Bancorp in the 4th quarter valued at about $1,057,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Insider Activity at Eagle Bancorp

In related news, CFO Eric R. Newell purchased 1,170 shares of the business’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $21.37 per share, for a total transaction of $25,002.90. Following the purchase, the chief financial officer now owns 28,733 shares of the company’s stock, valued at approximately $614,024.21. This trade represents a 4.24 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by insiders.

Eagle Bancorp Price Performance

Shares of NASDAQ EGBN opened at $20.10 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $21.88 and its 200-day moving average price is $24.82. The firm has a market capitalization of $607.10 million, a P/E ratio of -12.80 and a beta of 1.04. Eagle Bancorp, Inc. has a 1-year low of $15.99 and a 1-year high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share 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 anticipate that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, February 7th. Eagle Bancorp’s dividend payout ratio is currently -42.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler lowered their target price on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a report on Friday, January 24th. Keefe, Bruyette & Woods reduced their price objective on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, January 27th.

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.