Charles Schwab Investment Management Inc. Has $7.75 Million Stake in 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. increased its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 1.21% of Eagle Bancorp worth $7,747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EGBN. First Trust Advisors LP boosted its position in Eagle Bancorp by 15.3% during the fourth quarter. First Trust Advisors LP now owns 31,842 shares of the financial services provider's stock worth $829,000 after purchasing an additional 4,231 shares during the period. Dimensional Fund Advisors LP boosted its position in Eagle Bancorp by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,571,976 shares of the financial services provider's stock worth $40,919,000 after purchasing an additional 63,702 shares during the period. State of Tennessee Department of Treasury boosted its position in Eagle Bancorp by 125.3% during the fourth quarter. State of Tennessee Department of Treasury now owns 18,095 shares of the financial services provider's stock worth $471,000 after purchasing an additional 10,062 shares during the period. Aquatic Capital Management LLC boosted its position in Eagle Bancorp by 432.3% during the fourth quarter. Aquatic Capital Management LLC now owns 10,646 shares of the financial services provider's stock worth $277,000 after purchasing an additional 8,646 shares during the period. Finally, Northern Trust Corp boosted its position in 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 purchasing an additional 18,298 shares during the period. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Price Performance

NASDAQ EGBN traded up $0.17 during trading on Monday, hitting $19.42. 322,643 shares of the company's stock were exchanged, compared to its average volume of 563,438. 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 company has a market cap of $589.79 million, a PE ratio of -19.04 and a beta of 1.14. Eagle Bancorp, Inc. has a fifty-two week low of $15.47 and a fifty-two week high of $30.94. The stock's 50 day moving average price is $18.92 and its two-hundred day moving average price is $19.48.

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

Eagle Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 8th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

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