Bank of New York Mellon Corp Boosts Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Bank of New York Mellon Corp boosted its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 434,729 shares of the financial services provider’s stock after purchasing an additional 44,121 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.42% of Eagle Bancorp worth $9,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EGBN. Fifth Third Bancorp boosted its position in Eagle Bancorp by 667.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,235 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,074 shares during the period. Belpointe Asset Management LLC boosted its position in Eagle Bancorp by 320.5% during the 1st quarter. Belpointe Asset Management LLC now owns 820 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 625 shares during the period. Ameritas Advisory Services LLC acquired a new position in Eagle Bancorp during the 1st quarter worth $32,000. Nisa Investment Advisors LLC boosted its position in Eagle Bancorp by 178.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,950 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 1,250 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Eagle Bancorp during the 2nd quarter worth $121,000. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eagle Bancorp

In other news, EVP Ryan Riel sold 6,282 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $24.17, for a total transaction of $151,835.94. Following the sale, the executive vice president now directly owns 25,860 shares of the company’s stock, valued at $625,036.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Ryan Riel sold 6,282 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $24.17, for a total transaction of $151,835.94. Following the sale, the executive vice president now directly owns 25,860 shares of the company’s stock, valued at $625,036.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theresa G. Laplaca sold 3,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $21.34, for a total value of $64,020.00. Following the sale, the director now directly owns 18,291 shares in the company, valued at $390,329.94. The disclosure for this sale can be found here. 2.09% of the stock is owned by insiders.

Eagle Bancorp Stock Up 1.7 %

EGBN opened at $24.28 on Friday. Eagle Bancorp, Inc. has a one year low of $16.72 and a one year high of $49.04. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83. The stock’s fifty day moving average is $21.17 and its 200-day moving average is $22.37. The company has a market capitalization of $726.60 million, a PE ratio of 6.15 and a beta of 1.00.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.17. Eagle Bancorp had a return on equity of 9.99% and a net margin of 20.05%. The company had revenue of $77.07 million for the quarter, compared to the consensus estimate of $73.98 million. On average, equities analysts predict that Eagle Bancorp, Inc. will post 3.32 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 20th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date was Thursday, October 19th. Eagle Bancorp’s dividend payout ratio (DPR) is presently 45.57%.

Wall Street Analysts Forecast Growth

EGBN has been the subject of a number of analyst reports. StockNews.com lowered Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, November 6th. Piper Sandler dropped their price objective on Eagle Bancorp from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 31st.

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.