Principal Financial Group Inc. Has $3.21 Million Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Principal Financial Group Inc. reduced its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 18.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EGBN. Dimensional Fund Advisors LP grew its position in Eagle Bancorp by 13.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,440 shares of the financial services provider’s stock worth $26,637,000 after acquiring an additional 169,621 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Eagle Bancorp by 3.7% in the third quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock valued at $16,254,000 after buying an additional 25,578 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Eagle Bancorp by 53.2% in the second quarter. AQR Capital Management LLC now owns 539,186 shares of the financial services provider’s stock valued at $10,191,000 after buying an additional 187,249 shares during the last quarter. American Century Companies Inc. lifted its position in Eagle Bancorp by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 510,770 shares of the financial services provider’s stock worth $9,654,000 after buying an additional 72,415 shares in the last quarter. Finally, Fourthstone LLC acquired a new position in Eagle Bancorp during the 3rd quarter worth about $5,972,000. 78.03% of the stock is owned by institutional investors.

Eagle Bancorp Stock Performance

Eagle Bancorp stock opened at $25.50 on Friday. The company has a market cap of $770.15 million, a PE ratio of -18.21 and a beta of 1.09. 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, Inc. has a 1 year low of $15.99 and a 1 year high of $30.94. The company’s 50-day moving average is $27.98 and its two-hundred day moving average is $23.54.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, beating 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 period in the prior year, the business posted $0.91 earnings per share. Equities analysts anticipate that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

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