Connor Clark & Lunn Investment Management Ltd. Has $2.43 Million Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 51.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,374 shares of the financial services provider’s stock after acquiring an additional 31,633 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Eagle Bancorp were worth $2,431,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Eagle Bancorp by 353.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 775 shares during the period. R Squared Ltd bought a new position in shares of Eagle Bancorp during the fourth quarter valued at $51,000. Point72 DIFC Ltd bought a new position in shares of Eagle Bancorp during the third quarter valued at $48,000. GAMMA Investing LLC lifted its holdings in shares of Eagle Bancorp by 45.7% during the fourth quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 1,116 shares during the period. Finally, FMR LLC lifted its holdings in shares of Eagle Bancorp by 84.9% during the third quarter. FMR LLC now owns 4,785 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 2,197 shares during the period. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Stock Performance

Shares of NASDAQ:EGBN opened at $21.76 on Wednesday. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month high of $30.94. The firm has a market cap of $657.24 million, a PE ratio of -13.86 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88. The business has a fifty day moving average of $24.10 and a 200-day moving average of $25.10.

Eagle Bancorp (NASDAQ:EGBN) last announced its 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 negative net margin of 6.65% and a positive return on equity of 4.68%. On average, equities research analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a $0.165 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.66 dividend on an annualized basis and a yield of 3.03%. Eagle Bancorp’s payout ratio is -42.04%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler cut their price objective 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 lowered their target price on Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Monday, January 27th.

Insider Buying and Selling

In other news, CFO Eric R. Newell acquired 1,170 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.

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.