Charles Schwab Investment Management Inc. Decreases Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Charles Schwab Investment Management Inc. lowered its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 20.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 354,845 shares of the financial services provider’s stock after selling 91,777 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Eagle Bancorp were worth $9,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Eagle Bancorp by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock valued at $16,254,000 after purchasing an additional 25,578 shares in the last quarter. Empowered Funds LLC lifted its holdings in Eagle Bancorp by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock valued at $639,000 after purchasing an additional 1,340 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Eagle Bancorp by 4.3% in the 3rd quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 450 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Eagle Bancorp in the 4th quarter valued at $1,081,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Eagle Bancorp in the 4th quarter valued at $212,000. 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. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $30.94. The company has a market capitalization of $645.46 million, a PE ratio of -13.61 and a beta of 1.08. The stock has a fifty day simple moving average of $23.95 and a two-hundred day simple moving average of $25.08. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share (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%. As a group, equities analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, February 7th. Eagle Bancorp’s payout ratio is -42.04%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Piper Sandler cut their target price on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a research note on Friday, January 24th. Keefe, Bruyette & Woods cut their target price on Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Monday, January 27th.

Insider Buying and Selling

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

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.