Charles Schwab Investment Management Inc. Sells 91,777 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Charles Schwab Investment Management Inc. lessened its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 20.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 354,845 shares of the financial services provider's stock after selling 91,777 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.17% of Eagle Bancorp worth $9,237,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EGBN. Geode Capital Management LLC increased its position in shares of Eagle Bancorp by 3.7% during the third quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider's stock worth $16,254,000 after acquiring an additional 25,578 shares in the last quarter. Empowered Funds LLC boosted its stake in Eagle Bancorp by 5.0% during 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 during the last quarter. HighTower Advisors LLC increased its holdings in Eagle Bancorp by 4.3% during the 3rd quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider's stock worth $247,000 after purchasing an additional 450 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Eagle Bancorp in the fourth quarter worth approximately $1,081,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Eagle Bancorp in the fourth quarter worth approximately $212,000. Institutional investors and hedge funds own 78.03% of the company's stock.

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Insider Transactions at Eagle Bancorp

In other news, CFO Eric R. Newell acquired 1,170 shares of Eagle Bancorp stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $21.37 per share, with a total value of $25,002.90. Following the completion of the acquisition, the chief financial officer now owns 28,733 shares in the company, valued at approximately $614,024.21. This trade represents a 4.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by company insiders.

Eagle Bancorp Stock Performance

Shares of EGBN traded down $0.26 on Wednesday, reaching $21.38. 224,977 shares of the company's stock traded hands, compared to its average volume of 296,791. The stock's 50 day simple moving average is $23.86 and its two-hundred day simple moving average is $25.11. The stock has a market cap of $645.76 million, a PE ratio of -13.62 and a beta of 1.08. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $30.94. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its quarterly 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%. On average, analysts forecast that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders 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 dividend payout ratio is currently -42.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EGBN shares. Keefe, Bruyette & Woods decreased their price target on Eagle Bancorp from $32.00 to $30.00 and set a "market perform" rating for the company in a report on Monday, January 27th. Piper Sandler lowered their target price on shares of Eagle Bancorp from $31.00 to $27.50 and set a "neutral" rating for the company in a report on Friday, January 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.