Eagle Bancorp, Inc. $EGBN Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 32.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 133,514 shares of the financial services provider’s stock after selling 64,598 shares during the period. Principal Financial Group Inc. owned 0.44% of Eagle Bancorp worth $2,700,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in EGBN. Jupiter Asset Management Ltd. increased its stake in shares of Eagle Bancorp by 112.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 357,404 shares of the financial services provider’s stock valued at $6,962,000 after acquiring an additional 189,233 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Eagle Bancorp in the second quarter worth approximately $831,000. Walleye Capital LLC grew its holdings in Eagle Bancorp by 330.0% in the second quarter. Walleye Capital LLC now owns 79,335 shares of the financial services provider’s stock valued at $1,545,000 after purchasing an additional 60,883 shares during the period. Y Intercept Hong Kong Ltd increased its position in Eagle Bancorp by 998.3% during the second quarter. Y Intercept Hong Kong Ltd now owns 158,227 shares of the financial services provider’s stock worth $3,082,000 after purchasing an additional 143,820 shares during the last quarter. Finally, SummerHaven Investment Management LLC purchased a new position in Eagle Bancorp during the third quarter worth approximately $806,000. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Trading Up 0.6%

NASDAQ:EGBN opened at $26.26 on Tuesday. The business’s 50-day moving average is $23.50 and its two-hundred day moving average is $20.49. The firm has a market capitalization of $797.52 million, a PE ratio of -6.24 and a beta of 1.04. Eagle Bancorp, Inc. has a 12 month low of $15.03 and a 12 month high of $29.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.37. The business had revenue of $80.50 million during the quarter, compared to analyst estimates of $67.81 million. Eagle Bancorp had a negative return on equity of 10.91% and a negative net margin of 20.19%. Research analysts predict that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $0.01 per share. The ex-dividend date was Monday, February 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Eagle Bancorp’s dividend payout ratio (DPR) is currently -0.95%.

Analysts Set New Price Targets

Several analysts have recently issued reports on EGBN shares. UBS Group set a $25.00 price objective on shares of Eagle Bancorp in a research note on Tuesday, January 27th. Zacks Research raised Eagle Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Piper Sandler raised their price objective on Eagle Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.60.

Insider Activity at Eagle Bancorp

In other news, Director Louis P. Jr. Mathews bought 1,500 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was acquired at an average cost of $17.20 per share, for a total transaction of $25,800.00. Following the completion of the purchase, the director owned 10,157 shares of the company’s stock, valued at $174,700.40. This trade represents a 17.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company’s product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.