Walleye Capital LLC Sells 24,266 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Walleye Capital LLC cut its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 25.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,485 shares of the financial services provider’s stock after selling 24,266 shares during the period. Walleye Capital LLC owned about 0.23% of Eagle Bancorp worth $1,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of EGBN. Point72 Asset Management L.P. bought a new stake in shares of Eagle Bancorp during the second quarter valued at approximately $35,000. Carmichael Hill & Associates Inc. increased its position 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 valued at $51,000 after purchasing an additional 721 shares during the period. GAMMA Investing LLC increased its position in shares of Eagle Bancorp by 102.0% during the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 1,234 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Eagle Bancorp by 49.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 846 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Eagle Bancorp during the second quarter valued at approximately $89,000. 78.03% of the stock is currently owned by institutional investors.

Eagle Bancorp Price Performance

Shares of EGBN stock opened at $29.48 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $890.35 million, a price-to-earnings ratio of -21.06 and a beta of 1.09. The stock’s fifty day simple moving average is $26.28 and its 200 day simple moving average is $22.11. Eagle Bancorp, Inc. has a one year low of $15.99 and a one year high of $31.97.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.27. The company had revenue of $180.76 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.91 earnings per share. On average, analysts expect that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Monday, October 21st. Eagle Bancorp’s dividend payout ratio is currently -47.14%.

Wall Street Analysts Forecast Growth

EGBN has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday. StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Piper Sandler started coverage on Eagle Bancorp in a research note on Monday, October 21st. They issued a “neutral” rating and a $27.00 price target on the stock.

About Eagle Bancorp

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.