Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Sold by Invesco Ltd.

Invesco Ltd. cut its position in Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 29.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 438,687 shares of the financial services provider's stock after selling 187,012 shares during the quarter. Invesco Ltd. owned approximately 1.45% of Eagle Bancorp worth $11,419,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in Eagle Bancorp by 353.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider's stock valued at $26,000 after buying an additional 775 shares during the last quarter. R Squared Ltd purchased a new stake in Eagle Bancorp in the 4th quarter valued at $51,000. Millstone Evans Group LLC acquired a new stake in Eagle Bancorp during the 4th quarter worth $59,000. Russell Investments Group Ltd. grew its position in Eagle Bancorp by 42.0% during the 4th quarter. Russell Investments Group Ltd. now owns 3,153 shares of the financial services provider's stock worth $82,000 after purchasing an additional 933 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Eagle Bancorp by 45.7% in the fourth quarter. GAMMA Investing LLC now owns 3,560 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 1,116 shares during the period. 78.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EGBN has been the topic of a number of research reports. Piper Sandler lowered their price target on Eagle Bancorp from $31.00 to $27.50 and set a "neutral" rating on the stock in a report on Friday, January 24th. Keefe, Bruyette & Woods cut their price target 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.

Eagle Bancorp Stock Performance

Shares of EGBN stock opened at $20.85 on Wednesday. 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, Inc. has a 12-month low of $15.99 and a 12-month high of $30.94. The company has a market cap of $633.21 million, a price-to-earnings ratio of -13.28 and a beta of 1.04. The stock has a 50 day simple moving average of $21.46 and a 200-day simple moving average of $24.77.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted 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, equities analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Eric R. Newell acquired 1,170 shares of Eagle Bancorp 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by company insiders.

About Eagle Bancorp

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.

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