Geode Capital Management LLC Has $14.28 Million Position in Eagle Bancorp, Inc. $EGBN

Geode Capital Management LLC raised its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 733,007 shares of the financial services provider’s stock after acquiring an additional 4,392 shares during the quarter. Geode Capital Management LLC owned about 2.41% of Eagle Bancorp worth $14,281,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EGBN. Jupiter Asset Management Ltd. increased its position in Eagle Bancorp by 112.5% during the second quarter. Jupiter Asset Management Ltd. now owns 357,404 shares of the financial services provider’s stock worth $6,962,000 after acquiring an additional 189,233 shares during the period. Savant Capital LLC bought a new position in Eagle Bancorp in the 2nd quarter valued at approximately $200,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Eagle Bancorp during the 2nd quarter valued at $70,000. Huntington National Bank boosted its stake in shares of Eagle Bancorp by 1,307.8% during the second quarter. Huntington National Bank now owns 5,406 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 5,022 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in Eagle Bancorp by 998.3% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 158,227 shares of the financial services provider’s stock worth $3,082,000 after buying an additional 143,820 shares during the period. Institutional investors own 78.03% of the company’s stock.

Insider Transactions at Eagle Bancorp

In other news, Director Louis P. Jr. Mathews bought 1,500 shares of the business’s stock in a transaction on Friday, November 21st. The stock was acquired at an average price of $17.20 per share, with a total value of $25,800.00. Following the completion of the purchase, the director directly owned 10,157 shares in the company, valued at $174,700.40. This represents a 17.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Eric R. Newell acquired 3,050 shares of Eagle Bancorp stock in a transaction dated Friday, November 14th. The shares were bought at an average cost of $16.55 per share, for a total transaction of $50,477.50. Following the completion of the purchase, the chief financial officer directly owned 33,615 shares of the company’s stock, valued at approximately $556,328.25. The trade was a 9.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 6,050 shares of company stock valued at $101,538. Corporate insiders own 3.39% of the company’s stock.

Eagle Bancorp Trading Up 4.2%

Shares of EGBN opened at $19.76 on Tuesday. The business has a 50-day moving average of $18.64 and a 200 day moving average of $18.71. Eagle Bancorp, Inc. has a fifty-two week low of $15.03 and a fifty-two week high of $30.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.84 and a current ratio of 0.86. The firm has a market cap of $600.13 million, a P/E ratio of -4.99 and a beta of 1.17.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Monday, September 11th. The financial services provider reported $1.20 EPS for the quarter. The company had revenue of $88.48 million during the quarter. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.07%. As a group, research analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were paid a $0.01 dividend. The ex-dividend date was Monday, November 3rd. This represents a $0.04 annualized dividend and a yield of 0.2%. Eagle Bancorp’s dividend payout ratio is currently -1.01%.

Analyst Upgrades and Downgrades

EGBN has been the topic of a number of recent analyst reports. Zacks Research lowered Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Piper Sandler reduced their target price on Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Eagle Bancorp presently has an average rating of “Reduce” and a consensus target price of $21.25.

Eagle Bancorp 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.