Rafferty Asset Management LLC Sells 9,943 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Rafferty Asset Management LLC lowered its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,903 shares of the financial services provider’s stock after selling 9,943 shares during the period. Rafferty Asset Management LLC owned about 0.18% of Eagle Bancorp worth $1,403,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of Eagle Bancorp by 353.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after buying an additional 775 shares in the last quarter. R Squared Ltd bought a new stake in shares of Eagle Bancorp in the 4th quarter valued at $51,000. Millstone Evans Group LLC bought a new stake in shares of Eagle Bancorp in the 4th quarter valued at $59,000. Russell Investments Group Ltd. increased its position in shares of Eagle Bancorp by 42.0% in the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider’s stock valued at $82,000 after buying an additional 933 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Eagle Bancorp in the 4th quarter valued at $212,000. Institutional investors own 78.03% of the company’s stock.

Insider Transactions at Eagle Bancorp

In other Eagle Bancorp news, CFO Eric R. Newell acquired 1,170 shares of Eagle Bancorp stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the purchase, the chief financial officer now directly owns 28,733 shares in the company, valued at approximately $614,024.21. This represents a 4.24% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.39% of the company’s stock.

Eagle Bancorp Price Performance

Shares of NASDAQ EGBN opened at $17.66 on Thursday. The firm has a market cap of $536.46 million, a PE ratio of -11.25 and a beta of 1.02. The company has a current ratio of 0.88, a quick 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 $30.94. The company has a fifty day moving average price of $19.72 and a 200 day moving average price of $23.89.

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

Eagle Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.74%. Eagle Bancorp’s dividend payout ratio is -44.00%.

Analyst Upgrades and Downgrades

EGBN has been the subject of a number of research analyst reports. Piper Sandler reduced their target price on shares of Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Jefferies Financial Group initiated coverage on shares of Eagle Bancorp in a research note on Wednesday. They issued a “hold” rating and a $20.00 target price for the company. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating for the company in a research note on Monday, April 28th.

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.