Graham Capital Management L.P. Makes New $220,000 Investment in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Graham Capital Management L.P. purchased a new position in Eagle Bancorp, Inc. (NASDAQ:EGBN) in the fourth quarter, HoldingsChannel reports. The firm purchased 8,468 shares of the financial services provider’s stock, valued at approximately $220,000.

A number of other hedge funds have also modified their holdings of EGBN. Smartleaf Asset Management LLC boosted its position in shares of Eagle Bancorp by 353.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 775 shares during the period. R Squared Ltd purchased a new position in shares of Eagle Bancorp in the fourth quarter worth $51,000. Millstone Evans Group LLC purchased a new position in shares of Eagle Bancorp in the fourth quarter worth $59,000. Russell Investments Group Ltd. lifted its holdings in shares of Eagle Bancorp by 42.0% in the fourth quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider’s stock worth $82,000 after buying an additional 933 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Eagle Bancorp in the fourth quarter worth $212,000. 78.03% of the stock is currently owned by institutional investors.

Insider Activity at Eagle Bancorp

In other Eagle Bancorp news, CFO Eric R. Newell purchased 1,170 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $21.37 per share, with a total value of $25,002.90. Following the completion of the purchase, the chief financial officer now directly owns 28,733 shares in the company, valued at $614,024.21. This trade represents a 4.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Piper Sandler lowered their target price on shares of Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, April 28th.

Eagle Bancorp Price Performance

EGBN stock opened at $18.77 on Monday. The company has a market capitalization of $570.18 million, a PE ratio of -11.96 and a beta of 1.02. The company’s fifty day moving average price is $19.87 and its 200-day moving average price is $24.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88. Eagle Bancorp, Inc. has a one year low of $15.99 and a one year high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.40). The business had revenue of $73.86 million for the quarter, compared to analysts’ expectations of $71.93 million. Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. On average, equities analysts anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Monday, May 5th. Eagle Bancorp’s payout ratio is -44.00%.

Eagle Bancorp 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.