Jennison Associates LLC lessened its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 97.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,950 shares of the financial services provider’s stock after selling 542,948 shares during the period. Jennison Associates LLC’s holdings in Eagle Bancorp were worth $650,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Arizona State Retirement System raised its holdings in Eagle Bancorp by 0.4% during the 1st quarter. Arizona State Retirement System now owns 48,845 shares of the financial services provider’s stock worth $2,452,000 after buying an additional 180 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Eagle Bancorp by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,239 shares of the financial services provider’s stock worth $614,000 after buying an additional 221 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Eagle Bancorp by 14.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,489 shares of the financial services provider’s stock worth $121,000 after buying an additional 321 shares during the period. Mason Street Advisors LLC increased its holdings in shares of Eagle Bancorp by 3.6% in the 1st quarter. Mason Street Advisors LLC now owns 10,169 shares of the financial services provider’s stock valued at $510,000 after purchasing an additional 355 shares during the period. Finally, Trillium Asset Management LLC increased its holdings in shares of Eagle Bancorp by 2.1% in the 4th quarter. Trillium Asset Management LLC now owns 19,162 shares of the financial services provider’s stock valued at $933,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 76.01% of the company’s stock.
EGBN has been the topic of a number of research reports. Sandler O’Neill set a $60.00 target price on Eagle Bancorp and gave the company a “buy” rating in a report on Monday, April 22nd. BidaskClub downgraded Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Zacks Investment Research downgraded Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Stephens set a $58.00 target price on Eagle Bancorp and gave the company a “hold” rating in a report on Monday, April 22nd. Finally, ValuEngine downgraded Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $63.00.
Shares of EGBN opened at $55.28 on Friday. The stock has a market capitalization of $1.90 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.54 and a beta of 0.97. Eagle Bancorp, Inc. has a fifty-two week low of $45.15 and a fifty-two week high of $65.42. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04.
Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.02). The business had revenue of $81.02 million during the quarter, compared to analyst estimates of $82.25 million. Eagle Bancorp had a net margin of 34.72% and a return on equity of 14.28%. Eagle Bancorp’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. On average, sell-side analysts expect that Eagle Bancorp, Inc. will post 4.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.22 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.59%. Eagle Bancorp’s dividend payout ratio is 19.91%.
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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. It accepts business and personal checking, NOW, tiered savings, and money market accounts, as well as individual retirement and investment sweep accounts; and time deposits.
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