Rhumbline Advisers Trims Position in Eagle Bancorp, Inc. (EGBN)

Rhumbline Advisers decreased its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,333 shares of the financial services provider’s stock after selling 5,530 shares during the quarter. Rhumbline Advisers owned about 0.09% of Eagle Bancorp worth $1,814,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. purchased a new stake in Eagle Bancorp in the 4th quarter valued at $369,000. Capital Fund Management S.A. purchased a new stake in Eagle Bancorp in the 4th quarter valued at $816,000. State of Wisconsin Investment Board purchased a new stake in Eagle Bancorp in the 4th quarter valued at $2,605,000. D.A. Davidson & CO. raised its position in Eagle Bancorp by 29.2% in the 4th quarter. D.A. Davidson & CO. now owns 4,830 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 1,091 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Eagle Bancorp by 17.4% in the 4th quarter. Wells Fargo & Company MN now owns 124,726 shares of the financial services provider’s stock valued at $7,222,000 after purchasing an additional 18,487 shares during the last quarter. Hedge funds and other institutional investors own 69.92% of the company’s stock.

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Several analysts recently commented on EGBN shares. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “strong-buy” rating and set a $71.00 price target for the company in a research report on Friday, January 12th. Keefe, Bruyette & Woods upgraded shares of Eagle Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, December 4th. Stephens upgraded shares of Eagle Bancorp from an “equal weight” rating to an “overweight” rating and set a $69.00 price target for the company in a research report on Friday, January 19th. Finally, BidaskClub upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $68.00.

EGBN stock opened at $59.25 on Friday. The company has a market cap of $2,123.25, a price-to-earnings ratio of 18.63 and a beta of 0.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05. Eagle Bancorp, Inc. has a 12-month low of $46.20 and a 12-month high of $69.80.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.02. The company had revenue of $84.86 million during the quarter, compared to the consensus estimate of $80.80 million. Eagle Bancorp had a net margin of 28.32% and a return on equity of 12.49%. sell-side analysts expect that Eagle Bancorp, Inc. will post 4.43 earnings per share for the current year.

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Eagle Bancorp Profile

Eagle Bancorp, Inc is a bank holding company for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank. As of December 31, 2016, the Bank operated 21 banking offices: seven in Montgomery County, Maryland; five located in the District of Columbia, and nine in Northern Virginia.

Institutional Ownership by Quarter for Eagle Bancorp (NASDAQ:EGBN)

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