Charles Schwab Investment Management Inc. Acquires 14,074 Shares of Eagle Bancorp, Inc. $EGBN

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Eagle Bancorp by 4.0% in the first quarter, holding about 1.21% of the company worth approximately $7.75 million.
• Analysts have issued mixed ratings for Eagle Bancorp, with Jefferies setting a target price of $20.00 while Wall Street Zen downgraded it to a "strong sell," resulting in a consensus rating of "Hold" with an average target price of $21.00.
• Eagle Bancorp reported ($2.30) earnings per share in its recent quarterly results, significantly missing the analysts' consensus estimate of $0.40.

Charles Schwab Investment Management Inc. lifted its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 368,919 shares of the financial services provider's stock after buying an additional 14,074 shares during the period. Charles Schwab Investment Management Inc. owned about 1.21% of Eagle Bancorp worth $7,747,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EGBN. Vanguard Group Inc. increased its holdings in Eagle Bancorp by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 2,748,105 shares of the financial services provider's stock valued at $57,710,000 after purchasing an additional 58,682 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Eagle Bancorp by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider's stock valued at $40,919,000 after buying an additional 63,702 shares during the period. Northern Trust Corp increased its stake in shares of Eagle Bancorp by 6.1% in the 4th quarter. Northern Trust Corp now owns 317,422 shares of the financial services provider's stock valued at $8,262,000 after buying an additional 18,298 shares during the period. Algert Global LLC increased its stake in shares of Eagle Bancorp by 34.3% in the 4th quarter. Algert Global LLC now owns 207,508 shares of the financial services provider's stock valued at $5,401,000 after buying an additional 53,046 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Eagle Bancorp by 5.9% in the 4th quarter. Deutsche Bank AG now owns 190,958 shares of the financial services provider's stock valued at $4,971,000 after buying an additional 10,567 shares during the period. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Stock Performance

NASDAQ EGBN traded up $0.17 on Friday, hitting $19.42. 322,643 shares of the stock traded hands, compared to its average volume of 595,499. The business's fifty day moving average is $18.89 and its two-hundred day moving average is $19.56. Eagle Bancorp, Inc. has a 12 month low of $15.47 and a 12 month high of $30.94. The firm has a market capitalization of $589.77 million, a price-to-earnings ratio of -19.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.85 and a current ratio of 0.85.

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

Eagle Bancorp Announces Dividend

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

Wall Street Analyst Weigh In

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

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.