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

Principal Financial Group Inc. trimmed its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 32.6% during the third quarter, Holdings Channel reports. The fund owned 133,514 shares of the financial services provider’s stock after selling 64,598 shares during the quarter. Principal Financial Group Inc.’s holdings in Eagle Bancorp were worth $2,700,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in Eagle Bancorp by 102.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 753 shares during the last quarter. Financial Consulate Inc. purchased a new position in shares of Eagle Bancorp during the 3rd quarter valued at approximately $34,000. MAI Capital Management grew its position in shares of Eagle Bancorp by 24.2% during the second quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock worth $67,000 after buying an additional 671 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Eagle Bancorp in the second quarter worth $70,000. Finally, Tower Research Capital LLC TRC raised its holdings in Eagle Bancorp by 113.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,092 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 2,172 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Analysts Set New Price Targets

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

Eagle Bancorp Price Performance

Shares of NASDAQ:EGBN opened at $26.26 on Tuesday. The company has a market cap of $797.52 million, a PE ratio of -6.24 and a beta of 1.04. Eagle Bancorp, Inc. has a fifty-two week low of $15.03 and a fifty-two week high of $29.26. The firm has a 50-day simple moving average of $23.50 and a 200 day simple moving average of $20.49. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.07.

Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.37. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.91%. The firm had revenue of $80.50 million for the quarter, compared to analysts’ expectations of $67.81 million. On average, sell-side analysts anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Eagle Bancorp’s dividend payout ratio (DPR) is -0.95%.

Insider Transactions at Eagle Bancorp

In related news, Director Louis P. Jr. Mathews acquired 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average cost of $17.20 per share, for a total transaction of $25,800.00. Following 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. 3.10% of the stock is owned by corporate insiders.

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.