Bank of New York Mellon Corp Sells 127,132 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Bank of New York Mellon Corp decreased its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 32.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 262,066 shares of the financial services provider’s stock after selling 127,132 shares during the period. Bank of New York Mellon Corp owned 0.87% of Eagle Bancorp worth $6,822,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC increased its position in shares of 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 acquiring an additional 450 shares in the last quarter. Ieq Capital LLC increased its position in shares of Eagle Bancorp by 3.3% during the fourth quarter. Ieq Capital LLC now owns 20,724 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 667 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Eagle Bancorp by 45.7% during the fourth quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 1,116 shares in the last quarter. Empowered Funds LLC increased its position in shares of Eagle Bancorp by 5.0% during the third quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock valued at $639,000 after acquiring an additional 1,340 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Eagle Bancorp during the fourth quarter valued at approximately $51,000. Institutional investors own 78.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler reduced their price target on shares of Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a research report on Friday, January 24th. Keefe, Bruyette & Woods reduced their price target on shares of Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, January 27th.

Insider Transactions at Eagle Bancorp

In other Eagle Bancorp news, CFO Eric R. Newell purchased 1,170 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $21.37 per share, for a total transaction of $25,002.90. Following the purchase, the chief financial officer now directly owns 28,733 shares of the company’s stock, valued at $614,024.21. The trade was a 4.24 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Eagle Bancorp Trading Up 2.4 %

NASDAQ:EGBN opened at $21.25 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. Eagle Bancorp, Inc. has a 12 month low of $15.99 and a 12 month high of $30.94. The company has a market cap of $641.84 million, a PE ratio of -13.54 and a beta of 1.08. The company has a 50 day simple moving average of $24.24 and a two-hundred day simple moving average of $25.08.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. Research analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Friday, February 7th. Eagle Bancorp’s dividend payout ratio is presently -42.04%.

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.