Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 18.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,219 shares of the financial services provider’s stock after selling 32,741 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Eagle Bancorp worth $3,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in EGBN. State Board of Administration of Florida Retirement System grew its position in Eagle Bancorp by 434.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 46,699 shares of the financial services provider’s stock worth $1,097,000 after buying an additional 37,957 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Eagle Bancorp by 1.5% in the first quarter. Gamco Investors INC. ET AL now owns 342,171 shares of the financial services provider’s stock valued at $8,038,000 after purchasing an additional 5,093 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Eagle Bancorp by 7.5% in the first quarter. Gabelli Funds LLC now owns 43,000 shares of the financial services provider’s stock valued at $1,010,000 after purchasing an additional 3,000 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of Eagle Bancorp by 76.9% during the first quarter. Epoch Investment Partners Inc. now owns 457,881 shares of the financial services provider’s stock valued at $10,756,000 after buying an additional 199,057 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Eagle Bancorp by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,187 shares of the financial services provider’s stock valued at $710,000 after buying an additional 1,152 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bancorp Price Performance

EGBN opened at $28.82 on Friday. The company has a fifty day simple moving average of $24.84 and a 200 day simple moving average of $21.46. The firm has a market cap of $870.27 million, a price-to-earnings ratio of -20.58 and a beta of 1.06. Eagle Bancorp, Inc. has a twelve month low of $15.99 and a twelve month high of $31.97. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.27. The company had revenue of $180.76 million during the quarter, compared to the consensus estimate of $80.31 million. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. During the same quarter in the previous year, the firm earned $0.91 EPS. Equities research analysts expect that Eagle Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 21st were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Monday, October 21st. Eagle Bancorp’s dividend payout ratio (DPR) is presently -47.14%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EGBN. Piper Sandler began coverage on shares of Eagle Bancorp in a research note on Monday, October 21st. They set a “neutral” rating and a $27.00 price objective on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

Eagle Bancorp Company 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.