Jacobs Levy Equity Management Inc. Makes New Investment in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Jacobs Levy Equity Management Inc. bought a new position in Eagle Bancorp, Inc. (NASDAQ:EGBN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 30,984 shares of the financial services provider’s stock, valued at approximately $807,000. Jacobs Levy Equity Management Inc. owned approximately 0.10% of Eagle Bancorp at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in shares of Eagle Bancorp during the fourth quarter valued at approximately $1,081,000. Oppenheimer & Co. Inc. bought a new position in shares of Eagle Bancorp during the fourth quarter valued at approximately $212,000. Nisa Investment Advisors LLC boosted its stake in shares of Eagle Bancorp by 934.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 26,346 shares of the financial services provider’s stock valued at $686,000 after purchasing an additional 23,800 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Eagle Bancorp by 353.9% in 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 in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Eagle Bancorp in the fourth quarter valued at approximately $515,000. 78.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EGBN shares. Piper Sandler lowered 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. Keefe, Bruyette & Woods lowered 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.

Insiders Place Their Bets

In related news, CFO Eric R. Newell purchased 1,170 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $21.37 per share, with a total value of $25,002.90. Following the completion of the acquisition, the chief financial officer now owns 28,733 shares in the company, valued at approximately $614,024.21. This represents a 4.24% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.39% of the company’s stock.

Eagle Bancorp Price Performance

Shares of EGBN opened at $18.77 on Friday. The company has a market cap of $570.18 million, a price-to-earnings ratio of -11.96 and a beta of 1.02. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month high of $30.94. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $19.87 and a two-hundred day moving average of $24.04.

Eagle Bancorp (NASDAQ:EGBN) last posted 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 company had revenue of $73.86 million during the quarter, compared to analysts’ expectations of $71.93 million. Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. As a group, analysts predict that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

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

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.