Comerica Bank Has $287,000 Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Comerica Bank reduced its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 6.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,025 shares of the financial services provider’s stock after selling 765 shares during the period. Comerica Bank’s holdings in Eagle Bancorp were worth $287,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of EGBN. Fourthstone LLC lifted its stake in Eagle Bancorp by 382.7% in the 4th quarter. Fourthstone LLC now owns 1,276,653 shares of the financial services provider’s stock valued at $33,231,000 after purchasing an additional 1,012,182 shares during the last quarter. North Reef Capital Management LP lifted its stake in Eagle Bancorp by 251.9% in the 4th quarter. North Reef Capital Management LP now owns 967,593 shares of the financial services provider’s stock valued at $25,186,000 after purchasing an additional 692,593 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Eagle Bancorp by 69.5% in the 4th quarter. JPMorgan Chase & Co. now owns 268,214 shares of the financial services provider’s stock valued at $6,982,000 after purchasing an additional 109,960 shares during the last quarter. American Century Companies Inc. lifted its stake in Eagle Bancorp by 14.7% in the 4th quarter. American Century Companies Inc. now owns 648,192 shares of the financial services provider’s stock valued at $16,872,000 after purchasing an additional 83,305 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Eagle Bancorp by 69.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 178,418 shares of the financial services provider’s stock worth $4,644,000 after acquiring an additional 73,378 shares during the last quarter. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bancorp Trading Down 1.8%

Shares of EGBN stock opened at $18.77 on Friday. The firm has a 50 day moving average price of $19.87 and a two-hundred day moving average price of $24.06. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $570.18 million, a PE ratio of -11.96 and a beta of 1.02. Eagle Bancorp, Inc. has a 12-month low of $15.99 and a 12-month high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.40). Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. The business had revenue of $73.86 million during the quarter, compared to analyst estimates of $71.93 million. As a group, analysts predict that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

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

Insider Activity

In other Eagle Bancorp news, CFO Eric R. Newell purchased 1,170 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the completion of the transaction, the chief financial officer now owns 28,733 shares in the company, valued at approximately $614,024.21. This represents a 4.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.39% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EGBN has been the subject of several research reports. Keefe, Bruyette & Woods cut their price objective on shares of Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Piper Sandler cut their price objective on shares of Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, April 28th.

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.