Principal Financial Group Inc. Sells 32,741 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Principal Financial Group Inc. trimmed its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN - Free Report) by 18.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,219 shares of the financial services provider's stock after selling 32,741 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Eagle Bancorp worth $3,211,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Point72 Asset Management L.P. bought a new position in shares of Eagle Bancorp during the second quarter valued at $35,000. Carmichael Hill & Associates Inc. raised its holdings in shares of 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 worth $51,000 after acquiring an additional 721 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Eagle Bancorp by 102.0% in the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider's stock worth $55,000 after purchasing an additional 1,234 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Eagle Bancorp by 49.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider's stock valued at $57,000 after buying an additional 846 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Eagle Bancorp during the 2nd quarter worth $89,000. Institutional investors and hedge funds own 78.03% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler assumed coverage on Eagle Bancorp in a research report on Monday, October 21st. They set a "neutral" rating and a $27.00 target price for the company. Keefe, Bruyette & Woods upped their price objective on shares of Eagle Bancorp from $20.00 to $22.00 and gave the company a "market perform" rating in a report on Monday, July 29th. Finally, StockNews.com raised shares of Eagle Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th.

Eagle Bancorp Trading Up 2.3 %

Shares of EGBN traded up $0.66 during trading hours on Friday, hitting $29.41. The company had a trading volume of 169,615 shares, compared to its average volume of 316,209. The firm has a market cap of $888.24 million, a P/E ratio of -21.07 and a beta of 1.06. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $31.97. The stock's 50 day moving average price is $25.00 and its 200 day moving average price is $21.51. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.06.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.27. The firm had revenue of $180.76 million for the quarter, compared to analysts' expectations of $80.31 million. Eagle Bancorp had a positive return on equity of 5.04% and a negative net margin of 5.97%. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, research analysts predict that Eagle Bancorp, Inc. will post 1.68 EPS for the current year.

Eagle Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 21st were paid a $0.165 dividend. The ex-dividend date was Monday, October 21st. This represents a $0.66 annualized dividend and a dividend yield of 2.24%. Eagle Bancorp's payout ratio is currently -47.14%.

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.