Charles Schwab Investment Management Inc. Reduces Holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Charles Schwab Investment Management Inc. decreased its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 20.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 354,845 shares of the financial services provider’s stock after selling 91,777 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.17% of Eagle Bancorp worth $9,237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its holdings in Eagle Bancorp by 353.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 775 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Eagle Bancorp during the third quarter valued at approximately $48,000. R Squared Ltd purchased a new position in Eagle Bancorp during the fourth quarter valued at approximately $51,000. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 1,116 shares in the last quarter. Finally, FMR LLC lifted its holdings in Eagle Bancorp by 84.9% during the third quarter. FMR LLC now owns 4,785 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 2,197 shares in the last quarter. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Stock Down 1.0 %

Shares of EGBN opened at $21.37 on Friday. The firm has a market capitalization of $645.46 million, a P/E ratio of -13.61 and a beta of 1.08. 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 firm has a fifty day moving average price of $23.95 and a 200-day moving average price of $25.08.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share 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%. Equities research analysts expect that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.66 annualized dividend and a dividend yield of 3.09%. Eagle Bancorp’s dividend payout ratio (DPR) is currently -42.04%.

Insider Activity

In other Eagle Bancorp news, CFO Eric R. Newell purchased 1,170 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $21.37 per share, for a total transaction of $25,002.90. Following the acquisition, the chief financial officer now owns 28,733 shares in the company, valued at $614,024.21. This represents a 4.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating on the stock 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 on the stock in a research report on Monday, January 27th.

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.