Wells Fargo & Company MN Sells 30,159 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Wells Fargo & Company MN lowered its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 59.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,629 shares of the financial services provider's stock after selling 30,159 shares during the quarter. 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 and hedge funds have also bought and sold shares of the stock. Barclays PLC increased its stake in shares of Eagle Bancorp by 29.4% during the 3rd quarter. Barclays PLC now owns 75,120 shares of the financial services provider's stock worth $1,695,000 after purchasing an additional 17,051 shares during the last quarter. JPMorgan Chase & Co. increased its position in Eagle Bancorp by 44.5% during the third quarter. JPMorgan Chase & Co. now owns 158,254 shares of the financial services provider's stock worth $3,573,000 after buying an additional 48,749 shares during the last quarter. GAMMA Investing LLC raised its stake in Eagle Bancorp by 45.7% in the fourth quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider's stock valued at $93,000 after buying an additional 1,116 shares during the period. Hennessy Advisors Inc. lifted its position in shares of Eagle Bancorp by 16.8% in the fourth quarter. Hennessy Advisors Inc. now owns 146,000 shares of the financial services provider's stock valued at $3,800,000 after buying an additional 21,000 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Eagle Bancorp by 934.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 26,346 shares of the financial services provider's stock worth $686,000 after acquiring an additional 23,800 shares during the period. Institutional investors own 78.03% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on EGBN. Piper Sandler dropped their price target on Eagle Bancorp from $25.00 to $21.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods dropped their price objective on shares of 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.

Insiders Place Their Bets

In other Eagle Bancorp news, CFO Eric R. Newell bought 1,170 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $21.37 per share, with a total value of $25,002.90. Following the completion of the acquisition, the chief financial officer now owns 28,733 shares of the company's stock, valued at $614,024.21. This trade represents a 4.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.10% of the company's stock.

Eagle Bancorp Stock Performance

Shares of Eagle Bancorp stock traded down $0.04 on Friday, hitting $18.38. The stock had a trading volume of 21,818 shares, compared to its average volume of 331,769. The stock has a market cap of $558.20 million, a price-to-earnings ratio of -11.71 and a beta of 1.02. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month high of $30.94. The business's 50 day moving average is $20.17 and its two-hundred day moving average is $24.32.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its quarterly earnings data 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 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. Analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Monday, May 5th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Monday, May 5th. Eagle Bancorp's dividend 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.