Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Acquired by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC raised its position in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 91.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,170 shares of the financial services provider's stock after acquiring an additional 19,135 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.13% of Eagle Bancorp worth $844,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of EGBN. Smartleaf Asset Management LLC lifted its stake in shares of Eagle Bancorp by 353.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 775 shares during the period. Millstone Evans Group LLC bought a new position in Eagle Bancorp in the fourth quarter worth $59,000. Russell Investments Group Ltd. raised its holdings in Eagle Bancorp by 42.0% in the fourth quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock worth $82,000 after purchasing an additional 933 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Eagle Bancorp during the fourth quarter valued at $212,000. Finally, Graham Capital Management L.P. bought a new stake in shares of Eagle Bancorp during the 4th quarter valued at $220,000. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Stock Up 4.4%

Shares of EGBN stock traded up $0.85 on Tuesday, hitting $20.33. The stock had a trading volume of 763,802 shares, compared to its average volume of 334,531. Eagle Bancorp, Inc. has a one year low of $16.68 and a one year high of $30.94. The business has a 50 day moving average price of $18.13 and a 200 day moving average price of $21.62. The company has a market cap of $617.63 million, a PE ratio of -13.55 and a beta of 1.05. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.40). Eagle Bancorp had a positive return on equity of 4.86% and a negative net margin of 6.52%. The firm had revenue of $73.86 million during the quarter, compared to the consensus estimate of $71.93 million. Research analysts anticipate that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Monday, May 5th were paid a $0.165 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.66 annualized dividend and a yield of 3.25%. Eagle Bancorp's dividend payout ratio (DPR) is -44.00%.

Analyst Ratings Changes

EGBN has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Eagle Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 14th. Jefferies Financial Group set a $20.00 price objective on Eagle Bancorp and gave the company a "hold" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods lowered their price objective on Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Janney Montgomery Scott upgraded Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 price target on the stock in a research note on Tuesday, June 10th. Finally, Piper Sandler reduced their target price on shares of Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $21.75.

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. 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.