Hotchkis & Wiley Capital Management LLC Decreases Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Hotchkis & Wiley Capital Management LLC trimmed its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 10.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 620,480 shares of the financial services provider’s stock after selling 71,300 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Eagle Bancorp were worth $14,010,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EGBN. Point72 Asset Management L.P. bought a new stake in shares of Eagle Bancorp in the 2nd quarter valued at about $35,000. Carmichael Hill & Associates Inc. lifted its position in Eagle Bancorp by 36.1% in 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 last quarter. GAMMA Investing LLC boosted its stake 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 grew its holdings in shares of Eagle Bancorp by 49.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 846 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Eagle Bancorp in the second quarter worth approximately $89,000. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Price Performance

Shares of EGBN stock opened at $29.21 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. Eagle Bancorp, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $31.97. The firm has a market cap of $882.20 million, a P/E ratio of -20.86 and a beta of 1.09. The business’s 50 day moving average price is $26.13 and its 200-day moving average price is $22.06.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly 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. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. The business had revenue of $180.76 million for the quarter, compared to analysts’ expectations of $80.31 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. On average, equities research analysts anticipate that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current year.

Eagle Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 2.26%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp’s payout ratio is currently -47.14%.

Analysts Set New Price Targets

EGBN has been the subject of several analyst reports. Piper Sandler started coverage on shares of Eagle Bancorp in a research report on Monday, October 21st. They set a “neutral” rating and a $27.00 price target for the company. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

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.