Wells Fargo & Company MN Cuts Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Wells Fargo & Company MN lessened its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 59.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,629 shares of the financial services provider's stock after selling 30,159 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of Eagle Bancorp worth $537,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EGBN. Vanguard Group Inc. lifted its holdings in Eagle Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,689,423 shares of the financial services provider's stock worth $70,006,000 after buying an additional 35,255 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Eagle Bancorp by 14.7% during the fourth quarter. American Century Companies Inc. now owns 648,192 shares of the financial services provider's stock worth $16,872,000 after purchasing an additional 83,305 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Eagle Bancorp by 69.5% during the fourth quarter. JPMorgan Chase & Co. now owns 268,214 shares of the financial services provider's stock worth $6,982,000 after purchasing an additional 109,960 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Eagle Bancorp by 69.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 178,418 shares of the financial services provider's stock valued at $4,644,000 after purchasing an additional 73,378 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Eagle Bancorp by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 146,416 shares of the financial services provider's stock valued at $3,811,000 after purchasing an additional 4,197 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company's stock.

Insider Buying and Selling at Eagle Bancorp

In other Eagle Bancorp news, CFO Eric R. Newell bought 1,170 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average cost of $21.37 per share, with a total value of $25,002.90. Following the purchase, the chief financial officer now owns 28,733 shares in the company, valued at approximately $614,024.21. This represents a 4.24 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EGBN has been the subject of several research reports. Piper Sandler reduced their price target on shares of Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their target price 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.

Eagle Bancorp Trading Up 2.5 %

NASDAQ:EGBN opened at $18.50 on Friday. Eagle Bancorp, Inc. has a 12-month low of $15.99 and a 12-month high of $30.94. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock's 50 day simple moving average is $20.55 and its 200-day simple moving average is $24.49. The firm has a market cap of $561.85 million, a P/E ratio of -11.78 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.40). Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.68%. The firm had revenue of $73.86 million during the quarter, compared to analyst estimates of $71.93 million. Equities analysts anticipate that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be given a $0.165 dividend. The ex-dividend date is Monday, May 5th. This represents a $0.66 dividend on an annualized basis and a yield of 3.57%. Eagle Bancorp's payout ratio is currently -44.00%.

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.

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