Charles Schwab Investment Management Inc. Sells 51,812 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Charles Schwab Investment Management Inc. reduced its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 446,622 shares of the financial services provider's stock after selling 51,812 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.48% of Eagle Bancorp worth $10,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Carmichael Hill & Associates Inc. lifted its position in Eagle Bancorp by 36.1% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 2,721 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 721 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Eagle Bancorp by 49.8% in the third 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 during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Eagle Bancorp by 9.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,007 shares of the financial services provider's stock valued at $246,000 after purchasing an additional 1,112 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Eagle Bancorp by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,187 shares of the financial services provider's stock valued at $710,000 after buying an additional 1,152 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Eagle Bancorp by 102.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider's stock worth $55,000 after buying an additional 1,234 shares in the last quarter. 78.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on EGBN shares. Keefe, Bruyette & Woods upped their target price on shares of Eagle Bancorp from $25.00 to $32.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Eagle Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, Piper Sandler assumed coverage on shares of Eagle Bancorp in a research report on Monday, October 21st. They issued a "neutral" rating and a $27.00 target price for the company.

Eagle Bancorp Stock Performance

EGBN stock traded up $0.30 during trading on Tuesday, reaching $29.27. The stock had a trading volume of 73,332 shares, compared to its average volume of 309,279. The stock's 50 day moving average is $26.70 and its two-hundred day moving average is $22.31. The firm has a market cap of $883.95 million, a PE ratio of -20.98 and a beta of 1.09. Eagle Bancorp, Inc. has a 52 week low of $15.99 and a 52 week high of $31.97. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

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

Eagle Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 21st were paid a $0.165 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $0.66 annualized dividend and a dividend yield of 2.25%. Eagle Bancorp's dividend payout ratio (DPR) is -47.14%.

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.