Burt Wealth Advisors Makes New $315,000 Investment in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Burt Wealth Advisors purchased a new stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 13,945 shares of the financial services provider’s stock, valued at approximately $315,000.

Several other institutional investors have also modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in Eagle Bancorp in the second quarter worth approximately $35,000. GAMMA Investing LLC lifted its position in shares of Eagle Bancorp by 102.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,234 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of 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 worth $57,000 after purchasing an additional 846 shares during the last quarter. Carmichael Hill & Associates Inc. grew its stake in shares of 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 purchasing an additional 721 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Eagle Bancorp in the second quarter valued at $89,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Eagle Bancorp Stock Performance

EGBN traded up $0.72 on Friday, reaching $28.89. The company had a trading volume of 46,733 shares, compared to its average volume of 320,235. The company has a quick ratio of 1.02, a current ratio of 0.86 and a debt-to-equity ratio of 0.06. Eagle Bancorp, Inc. has a 1 year low of $15.99 and a 1 year high of $31.97. The stock has a market capitalization of $871.90 million, a PE ratio of -20.12 and a beta of 1.06. The stock has a 50-day moving average price of $23.47 and a 200-day moving average price of $20.91.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.27. The firm had revenue of $180.76 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.91 EPS. As a group, research analysts forecast that Eagle Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 21st were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, October 21st. Eagle Bancorp’s dividend payout ratio is currently -47.14%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EGBN shares. Piper Sandler began coverage on Eagle Bancorp in a report on Monday, October 21st. They set a “neutral” rating and a $27.00 price target for the company. Keefe, Bruyette & Woods boosted their target price 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 report 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.