Cresset Asset Management LLC Sells 1,550 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Cresset Asset Management LLC trimmed its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 11.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,767 shares of the financial services provider’s stock after selling 1,550 shares during the quarter. Cresset Asset Management LLC’s holdings in Eagle Bancorp were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EGBN. Smartleaf Asset Management LLC lifted its holdings in shares of Eagle Bancorp by 353.9% during 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 during the period. R Squared Ltd bought a new position in Eagle Bancorp in the 4th quarter worth $51,000. Millstone Evans Group LLC bought a new position in Eagle Bancorp in the 4th quarter worth $59,000. Russell Investments Group Ltd. raised its holdings in 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 worth $82,000 after purchasing an additional 933 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new position in Eagle Bancorp in the 4th quarter worth $212,000. 78.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EGBN shares. Keefe, Bruyette & Woods decreased their target price on Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Piper Sandler decreased their target price on Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, April 28th.

Eagle Bancorp Trading Down 1.8%

Shares of EGBN stock opened at $18.77 on Friday. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $30.94. 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 firm has a market capitalization of $570.18 million, a PE ratio of -11.96 and a beta of 1.02. The stock has a fifty day simple moving average of $19.87 and a two-hundred day simple moving average of $24.06.

Eagle Bancorp (NASDAQ:EGBN) last issued 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). 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 during the quarter, compared to analysts’ expectations of $71.93 million. On average, analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

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

Insiders Place Their Bets

In other Eagle Bancorp news, CFO Eric R. Newell purchased 1,170 shares of the business’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $21.37 per share, for a total transaction of $25,002.90. Following the purchase, the chief financial officer now owns 28,733 shares of the company’s stock, valued at approximately $614,024.21. This represents a 4.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.39% of the stock is currently owned by company insiders.

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.