Price T Rowe Associates Inc. MD lowered its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,362 shares of the financial services provider’s stock after selling 1,393 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.09% of Eagle Bancorp worth $1,589,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Eagle Bancorp by 3.5% during the 2nd quarter. BlackRock Inc. now owns 4,830,633 shares of the financial services provider’s stock worth $261,481,000 after purchasing an additional 163,889 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in shares of Eagle Bancorp by 0.7% during the second quarter. Wasatch Advisors Inc. now owns 3,249,555 shares of the financial services provider’s stock valued at $175,898,000 after buying an additional 23,322 shares during the period. Northern Trust Corp lifted its stake in shares of Eagle Bancorp by 19.1% during the second quarter. Northern Trust Corp now owns 503,581 shares of the financial services provider’s stock valued at $27,259,000 after buying an additional 80,785 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Eagle Bancorp by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 407,034 shares of the financial services provider’s stock valued at $22,033,000 after buying an additional 23,592 shares during the period. Finally, Geode Capital Management LLC raised its stake in Eagle Bancorp by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 359,231 shares of the financial services provider’s stock worth $17,498,000 after purchasing an additional 19,912 shares during the period. 74.63% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on EGBN shares. Janney Montgomery Scott lowered shares of Eagle Bancorp from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 24th. Zacks Investment Research upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Piper Jaffray Companies downgraded shares of Eagle Bancorp from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $63.00 to $47.00 in a research note on Friday, July 19th. TheStreet downgraded shares of Eagle Bancorp from a “b-” rating to a “c” rating in a research note on Monday, July 29th. Finally, BidaskClub downgraded shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $54.20.
Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($0.05). The company had revenue of $87.70 million for the quarter, compared to analyst estimates of $82.37 million. Eagle Bancorp had a net margin of 33.71% and a return on equity of 13.77%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. As a group, equities analysts anticipate that Eagle Bancorp, Inc. will post 4.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, October 11th. This represents a $0.88 annualized dividend and a yield of 2.07%. Eagle Bancorp’s payout ratio is 19.91%.
In other Eagle Bancorp news, EVP Antonio F. Marquez sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $41.79, for a total transaction of $104,475.00. Following the transaction, the executive vice president now owns 27,799 shares of the company’s stock, valued at approximately $1,161,720.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.25% of the stock is currently owned by company insiders.
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. It accepts business and personal checking, NOW, tiered savings, and money market accounts, as well as individual retirement and investment sweep accounts; and time deposits.
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