Louisiana State Employees Retirement System Trims Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Louisiana State Employees Retirement System lessened its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 3.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,600 shares of the financial services provider’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Eagle Bancorp were worth $330,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Eagle Bancorp by 13.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,440 shares of the financial services provider’s stock worth $26,637,000 after buying an additional 169,621 shares during the period. AQR Capital Management LLC raised its holdings in shares of Eagle Bancorp by 53.2% in the second quarter. AQR Capital Management LLC now owns 539,186 shares of the financial services provider’s stock valued at $10,191,000 after acquiring an additional 187,249 shares in the last quarter. American Century Companies Inc. lifted its stake in Eagle Bancorp by 16.5% in the second quarter. American Century Companies Inc. now owns 510,770 shares of the financial services provider’s stock worth $9,654,000 after acquiring an additional 72,415 shares during the period. Epoch Investment Partners Inc. grew its holdings in Eagle Bancorp by 76.9% during the 1st quarter. Epoch Investment Partners Inc. now owns 457,881 shares of the financial services provider’s stock worth $10,756,000 after acquiring an additional 199,057 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Eagle Bancorp by 1.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 342,171 shares of the financial services provider’s stock valued at $8,038,000 after purchasing an additional 5,093 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Stock Performance

EGBN stock opened at $29.69 on Thursday. Eagle Bancorp, Inc. has a one year low of $15.99 and a one year high of $31.97. The firm has a market cap of $895.96 million, a price-to-earnings ratio of -21.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.02 and a current ratio of 0.86. The firm has a 50-day simple moving average of $23.34 and a two-hundred day simple moving average of $20.86.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.27. The company had revenue of $180.76 million during the quarter, compared to the consensus estimate of $80.31 million. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. During the same period last year, the firm earned $0.91 earnings per share. On average, equities analysts forecast that Eagle Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 21st were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp’s dividend payout ratio is currently -47.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods upped their target price on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Piper Sandler began coverage on Eagle Bancorp in a research report on Monday, October 21st. They set a “neutral” rating and a $27.00 target price on the stock.

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.