Bank of New York Mellon Corp Sells 127,132 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Bank of New York Mellon Corp decreased its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 32.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 262,066 shares of the financial services provider's stock after selling 127,132 shares during the period. Bank of New York Mellon Corp owned approximately 0.87% of Eagle Bancorp worth $6,822,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position 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 worth $16,254,000 after buying an additional 25,578 shares during the last quarter. Fourthstone LLC bought a new stake in shares of Eagle Bancorp in the 3rd quarter worth approximately $5,972,000. JPMorgan Chase & Co. boosted its stake in shares of Eagle Bancorp by 44.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 158,254 shares of the financial services provider's stock valued at $3,573,000 after purchasing an additional 48,749 shares in the last quarter. Algert Global LLC grew its holdings in shares of Eagle Bancorp by 146.4% during the 3rd quarter. Algert Global LLC now owns 154,462 shares of the financial services provider's stock valued at $3,488,000 after purchasing an additional 91,782 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Eagle Bancorp by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 146,416 shares of the financial services provider's stock worth $3,811,000 after purchasing an additional 4,197 shares during the last quarter. 78.03% of the stock is currently owned by hedge funds and other institutional investors.

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Eagle Bancorp Trading Up 1.3 %

Shares of EGBN traded up $0.29 during trading hours on Wednesday, reaching $22.05. 127,905 shares of the company traded hands, compared to its average volume of 295,992. Eagle Bancorp, Inc. has a 12 month low of $15.99 and a 12 month high of $30.94. The company has a market capitalization of $665.91 million, a price-to-earnings ratio of -14.04 and a beta of 1.08. The company's fifty day moving average price is $24.10 and its two-hundred day moving average price is $25.10. 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 - Get Free Report) last posted its earnings results 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 predict that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently announced 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. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Friday, February 7th. Eagle Bancorp's dividend payout ratio (DPR) is presently -42.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Eagle Bancorp from $32.00 to $30.00 and set a "market perform" rating for the company in a research report on Monday, January 27th. Piper Sandler cut their target price on Eagle Bancorp from $31.00 to $27.50 and set a "neutral" rating on the stock in a research note on Friday, January 24th.

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 on Friday, March 7th. The shares were acquired at an average price of $21.37 per share, for a total transaction of $25,002.90. Following the completion of the acquisition, the chief financial officer now owns 28,733 shares in the company, valued at $614,024.21. This trade represents a 4.24 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.10% of the stock is owned by company insiders.

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.