Geode Capital Management LLC Acquires 25,578 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Geode Capital Management LLC grew its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 3.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 719,688 shares of the financial services provider’s stock after buying an additional 25,578 shares during the quarter. Geode Capital Management LLC owned 2.38% of Eagle Bancorp worth $16,254,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in EGBN. Empowered Funds LLC lifted its holdings in shares of Eagle Bancorp by 5.0% in the third quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock valued at $639,000 after purchasing an additional 1,340 shares in the last quarter. BNP Paribas Financial Markets grew its position in Eagle Bancorp by 41.6% in the third quarter. BNP Paribas Financial Markets now owns 55,627 shares of the financial services provider’s stock valued at $1,256,000 after purchasing an additional 16,338 shares in the last quarter. HighTower Advisors LLC boosted its position in Eagle Bancorp by 4.3% during the third quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 450 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Eagle Bancorp by 39.9% during the second quarter. Thrivent Financial for Lutherans now owns 115,739 shares of the financial services provider’s stock worth $2,188,000 after acquiring an additional 33,021 shares in the last quarter. Finally, Algert Global LLC lifted its stake in Eagle Bancorp by 146.4% in the third quarter. Algert Global LLC now owns 154,462 shares of the financial services provider’s stock valued at $3,488,000 after acquiring an additional 91,782 shares during the last quarter. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Stock Performance

NASDAQ:EGBN opened at $26.02 on Monday. Eagle Bancorp, Inc. has a fifty-two week low of $15.99 and a fifty-two week high of $31.20. The stock has a fifty day moving average price of $27.86 and a 200-day moving average price of $23.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $785.86 million, a price-to-earnings ratio of -18.59 and a beta of 1.09.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.27. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. The business had revenue of $180.76 million for the quarter, compared to analyst estimates of $80.31 million. During the same quarter last year, the business posted $0.91 EPS. As a group, equities analysts anticipate that Eagle Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on EGBN. Keefe, Bruyette & Woods boosted their target price on Eagle Bancorp from $25.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Piper Sandler assumed coverage on Eagle Bancorp in a report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective on the stock.

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.