Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,357 shares of the financial services provider’s stock after purchasing an additional 3,941 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Eagle Bancorp worth $3,157,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Chevy Chase Trust Holdings LLC raised its holdings in Eagle Bancorp by 91.0% during the first quarter. Chevy Chase Trust Holdings LLC now owns 40,170 shares of the financial services provider’s stock worth $844,000 after purchasing an additional 19,135 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Eagle Bancorp by 24.6% in the first quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 2,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Eagle Bancorp by 72.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,640 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 8,277 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Eagle Bancorp by 1,812.4% in the first quarter. GAMMA Investing LLC now owns 68,082 shares of the financial services provider’s stock valued at $1,430,000 after acquiring an additional 64,522 shares during the period. Finally, Alpine Global Management LLC acquired a new stake in Eagle Bancorp during the fourth quarter worth about $358,000. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Trading Up 1.6%

EGBN opened at $21.40 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average price of $18.75 and a two-hundred day moving average price of $21.17. The company has a market cap of $650.13 million, a P/E ratio of -14.27 and a beta of 1.05. Eagle Bancorp, Inc. has a 1-year low of $16.68 and a 1-year high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last released its 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). The company had revenue of $73.86 million during the quarter, compared to analysts’ expectations of $71.93 million. Eagle Bancorp had a negative net margin of 6.52% and a positive return on equity of 4.86%. Analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Monday, May 5th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Monday, May 5th. Eagle Bancorp’s dividend payout ratio (DPR) is currently -44.00%.

Wall Street Analyst Weigh In

A number of brokerages have commented on EGBN. Jefferies Financial Group set a $20.00 price target on shares of Eagle Bancorp and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Piper Sandler reduced their target price on shares of Eagle Bancorp from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, April 28th. Janney Montgomery Scott raised shares of Eagle Bancorp from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday, June 10th. Keefe, Bruyette & Woods lowered their target price on shares of Eagle Bancorp from $25.00 to $22.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen cut shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.75.

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.