Swiss National Bank Cuts Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Swiss National Bank reduced its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 11.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 68,932 shares of the financial services provider’s stock after selling 8,500 shares during the quarter. Swiss National Bank owned 0.22% of Eagle Bancorp worth $2,307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. lifted its holdings in Eagle Bancorp by 8.5% during the first quarter. Citigroup Inc. now owns 28,757 shares of the financial services provider’s stock valued at $1,639,000 after purchasing an additional 2,251 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Eagle Bancorp by 56.3% during the first quarter. MetLife Investment Management LLC now owns 17,213 shares of the financial services provider’s stock valued at $981,000 after purchasing an additional 6,200 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Eagle Bancorp by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,541 shares of the financial services provider’s stock valued at $1,570,000 after purchasing an additional 3,395 shares during the last quarter. BlackRock Inc. lifted its holdings in Eagle Bancorp by 1.7% during the first quarter. BlackRock Inc. now owns 4,708,887 shares of the financial services provider’s stock valued at $268,453,000 after purchasing an additional 77,845 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Eagle Bancorp by 2.0% during the first quarter. Vanguard Group Inc. now owns 3,458,795 shares of the financial services provider’s stock valued at $197,186,000 after purchasing an additional 67,255 shares during the last quarter. 76.10% of the stock is owned by hedge funds and other institutional investors.

Eagle Bancorp Stock Down 2.0 %

EGBN stock opened at $24.44 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $24.76 and its 200 day moving average is $27.32. The stock has a market cap of $731.00 million, a price-to-earnings ratio of 5.82 and a beta of 0.95. Eagle Bancorp, Inc. has a 1-year low of $16.72 and a 1-year high of $49.04.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.23. The company had revenue of $80.41 million for the quarter, compared to analysts’ expectations of $74.15 million. Eagle Bancorp had a net margin of 23.63% and a return on equity of 10.79%. Sell-side analysts predict that Eagle Bancorp, Inc. will post 3.13 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Thursday, July 20th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.36%. The ex-dividend date of this dividend was Wednesday, July 19th. Eagle Bancorp’s payout ratio is currently 42.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Piper Sandler upped their price target on Eagle Bancorp from $24.00 to $30.00 in a research report on Tuesday, August 1st.

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.