Chevy Chase Trust Holdings LLC Buys 19,135 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Chevy Chase Trust Holdings LLC boosted its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 91.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,170 shares of the financial services provider's stock after buying an additional 19,135 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.13% of Eagle Bancorp worth $844,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EGBN. Smartleaf Asset Management LLC raised its stake in shares of Eagle Bancorp by 353.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock valued at $26,000 after buying an additional 775 shares during the period. Millstone Evans Group LLC purchased a new stake in Eagle Bancorp in the 4th quarter worth about $59,000. Russell Investments Group Ltd. raised its stake in Eagle Bancorp by 42.0% in the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 933 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Eagle Bancorp during the fourth quarter valued at about $212,000. Finally, Graham Capital Management L.P. purchased a new stake in Eagle Bancorp during the fourth quarter valued at about $220,000. Hedge funds and other institutional investors own 78.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EGBN. Janney Montgomery Scott upgraded shares of Eagle Bancorp from a "neutral" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Tuesday, June 10th. Keefe, Bruyette & Woods cut their price objective on shares of Eagle Bancorp from $25.00 to $22.00 and set a "market perform" rating for the company in a report on Monday, April 28th. 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. Wall Street Zen downgraded Eagle Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Finally, Piper Sandler reduced their price target on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $21.75.

Eagle Bancorp Price Performance

NASDAQ:EGBN traded down $0.32 during mid-day trading on Friday, hitting $18.56. 1,242,773 shares of the stock traded hands, compared to its average volume of 329,867. The business's 50-day moving average price is $18.15 and its 200 day moving average price is $21.75. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.06. The company has a market cap of $563.85 million, a PE ratio of -12.37 and a beta of 1.03. Eagle Bancorp, Inc. has a 12-month low of $16.68 and a 12-month high of $30.94.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last released its quarterly 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). The firm had revenue of $73.86 million for the quarter, compared to analysts' expectations of $71.93 million. Eagle Bancorp had a negative net margin of 6.52% and a positive return on equity of 4.86%. On average, analysts expect that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Monday, May 5th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, May 5th. Eagle Bancorp's payout ratio is -44.00%.

Eagle Bancorp 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.