American Century Companies Inc. Raises Stock Holdings in Eagle Bancorp, Inc. $EGBN

Key Points

• American Century Companies Inc. increased its stake in Eagle Bancorp by 6.7%, purchasing an additional 43,597 shares, bringing its total ownership to 691,789 shares valued at approximately $14.5 million.
• Eagle Bancorp recently announced a quarterly dividend of $0.165 per share, with an annualized yield of 3.4%, set to be paid on August 29th.
• Analyst ratings for Eagle Bancorp have seen fluctuations, with target prices ranging from $18.00 to $24.00, reflecting varying sentiment in the market.

American Century Companies Inc. boosted its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 691,789 shares of the financial services provider's stock after buying an additional 43,597 shares during the quarter. American Century Companies Inc. owned approximately 2.28% of Eagle Bancorp worth $14,528,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Eagle Bancorp by 2.2% in the first quarter. Vanguard Group Inc. now owns 2,748,105 shares of the financial services provider's stock worth $57,710,000 after buying an additional 58,682 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Eagle Bancorp by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider's stock valued at $40,919,000 after purchasing an additional 63,702 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Eagle Bancorp by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 368,919 shares of the financial services provider's stock worth $7,747,000 after acquiring an additional 14,074 shares in the last quarter. Nuveen LLC purchased a new position in shares of Eagle Bancorp during the first quarter worth approximately $7,275,000. Finally, Northern Trust Corp raised its stake in shares of Eagle Bancorp by 6.1% during the fourth quarter. Northern Trust Corp now owns 317,422 shares of the financial services provider's stock worth $8,262,000 after acquiring an additional 18,298 shares in the last quarter. Institutional investors own 78.03% of the company's stock.

Eagle Bancorp Stock Performance

NASDAQ:EGBN traded up $0.17 during mid-day trading on Friday, reaching $19.42. The company's stock had a trading volume of 322,643 shares, compared to its average volume of 595,499. Eagle Bancorp, Inc. has a 12-month low of $15.47 and a 12-month high of $30.94. The firm's fifty day moving average price is $18.89 and its two-hundred day moving average price is $19.56. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.06. The stock has a market cap of $589.79 million, a P/E ratio of -19.04 and a beta of 1.07.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported ($2.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($2.70). The firm had revenue of $74.19 million for the quarter, compared to the consensus estimate of $73.03 million. Eagle Bancorp had a negative net margin of 4.60% and a negative return on equity of 2.54%. On average, equities analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 8th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, August 8th. Eagle Bancorp's dividend payout ratio is presently -64.71%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EGBN shares. Janney Montgomery Scott upgraded shares of Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price on the stock in a report on Tuesday, June 10th. Wall Street Zen cut shares of Eagle Bancorp from a "hold" rating to a "strong sell" rating in a report on Saturday, July 26th. Piper Sandler dropped their target price on shares of Eagle Bancorp from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, Jefferies Financial Group set a $20.00 target price on shares of Eagle Bancorp and gave the company a "hold" rating in a report on Wednesday, May 21st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $21.00.

About Eagle Bancorp

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.