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

Principal Financial Group Inc. lowered its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 18.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,219 shares of the financial services provider’s stock after selling 32,741 shares during the quarter. Principal Financial Group Inc.’s holdings in Eagle Bancorp were worth $3,211,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EGBN. Point72 Asset Management L.P. bought a new stake in Eagle Bancorp in the second quarter worth approximately $35,000. GAMMA Investing LLC raised its stake in shares of Eagle Bancorp by 102.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after buying an additional 1,234 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Eagle Bancorp by 49.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 846 shares in the last quarter. Carmichael Hill & Associates Inc. increased its position in shares of Eagle Bancorp by 36.1% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 721 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Eagle Bancorp during the 2nd quarter worth about $89,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Piper Sandler began coverage on shares of Eagle Bancorp in a report on Monday, October 21st. They set a “neutral” rating and a $27.00 target price on the stock. Finally, StockNews.com upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th.

Eagle Bancorp Stock Up 2.0 %

EGBN stock opened at $28.82 on Friday. The company has a market cap of $870.27 million, a PE ratio of -20.58 and a beta of 1.06. The business has a 50-day simple moving average of $24.84 and a 200 day simple moving average of $21.46. Eagle Bancorp, Inc. has a 52 week low of $15.99 and a 52 week high of $31.97. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.27. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. The company had revenue of $180.76 million during the quarter, compared to the consensus estimate of $80.31 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Sell-side analysts anticipate that Eagle Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 21st were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Monday, October 21st. Eagle Bancorp’s payout ratio is -47.14%.

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.