Comparing "Beowulf" and "The Hobbit"

I thought that the scene where the dwarves and Bilbo arrive in the Lake Town was interesting. It sort of reminded me of Beowulf and his crew arriving at Heorot. At first, everyone is very skeptical of the visitors, but as soon as they figure out their leader is, the citizens are welcoming. On page 180 after being asked who they are and what they want, Thorin says, “[I am] Thorin son of Thrain son of Thror King under the Mountain…I have come back. I wish to see the Master of your town!” There is a lot of excitement after Thorin announces who he is because the people there respect his lineage. They already know the stories of the great leaders who were Thorin’s and grandfather. After Thorin announces who he is again on page 181 the story states, “All leaped to their feet. The Master of the town sprang from his chair.” There is an emphasis on lineage in The Hobbit just like in the Anglo-Saxon period. In Beowulf, it seemed like every other line we were reading about someone’s lineage. The Hobbit is clearly set in a time similar to the Anglo-Saxon period because there is such an emphasis put on the importance of ancestry.

Why were the people of the Lake Town excited to see Thorin?

How else can The Hobbit be compared to Beowulf?