Fourthstone LLC Invests $5.97 Million in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Fourthstone LLC purchased a new position in Eagle Bancorp, Inc. (NASDAQ:EGBN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 264,471 shares of the financial services provider’s stock, valued at approximately $5,972,000. Eagle Bancorp comprises about 1.3% of Fourthstone LLC’s holdings, making the stock its 20th largest holding. Fourthstone LLC owned about 0.88% of Eagle Bancorp at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Carmichael Hill & Associates Inc. increased its holdings in shares of Eagle Bancorp by 36.1% in the second quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock worth $51,000 after buying an additional 721 shares during the period. Nisa Investment Advisors LLC raised its position in 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 purchasing an additional 846 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Eagle Bancorp by 9.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,007 shares of the financial services provider’s stock worth $246,000 after buying an additional 1,112 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Eagle Bancorp by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,187 shares of the financial services provider’s stock worth $710,000 after acquiring an additional 1,152 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Eagle Bancorp by 102.0% in the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 1,234 shares in the last quarter. Institutional investors own 78.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on EGBN. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Piper Sandler began coverage on Eagle Bancorp in a research report on Monday, October 21st. They set a “neutral” rating and a $27.00 price objective on the stock.

Eagle Bancorp Stock Performance

EGBN stock traded down $0.03 during midday trading on Thursday, reaching $29.45. 128,963 shares of the company’s stock traded hands, compared to its average volume of 314,295. The stock’s 50-day moving average is $25.60 and its 200 day moving average is $21.79. The stock has a market cap of $889.39 million, a P/E ratio of -21.04 and a beta of 1.06. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $31.97. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating 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 last year, the company posted $0.91 earnings per share. As a group, analysts anticipate that Eagle Bancorp, Inc. will post 1.68 EPS for the current year.

Eagle Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 21st were issued a $0.165 dividend. The ex-dividend date was Monday, October 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.24%. 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.