Dimensional Fund Advisors LP grew its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 806,377 shares of the financial services provider’s stock after purchasing an additional 12,269 shares during the period. Dimensional Fund Advisors LP owned approximately 2.36% of Eagle Bancorp worth $51,044,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Eagle Bancorp by 54,771.8% in the 1st quarter. BlackRock Inc. now owns 1,958,376 shares of the financial services provider’s stock worth $116,916,000 after acquiring an additional 1,954,807 shares during the last quarter. Teachers Advisors LLC raised its stake in Eagle Bancorp by 374.6% during the 1st quarter. Teachers Advisors LLC now owns 270,797 shares of the financial services provider’s stock valued at $16,167,000 after buying an additional 213,740 shares during the last quarter. Jennison Associates LLC raised its stake in Eagle Bancorp by 23.5% during the 2nd quarter. Jennison Associates LLC now owns 1,044,733 shares of the financial services provider’s stock valued at $66,132,000 after buying an additional 198,608 shares during the last quarter. Vanguard Group Inc. raised its stake in Eagle Bancorp by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,523,941 shares of the financial services provider’s stock valued at $159,766,000 after buying an additional 129,146 shares during the last quarter. Finally, State Street Corp raised its stake in Eagle Bancorp by 14.8% during the 1st quarter. State Street Corp now owns 761,167 shares of the financial services provider’s stock valued at $45,443,000 after buying an additional 98,136 shares during the last quarter. Hedge funds and other institutional investors own 68.15% of the company’s stock.
A number of brokerages have weighed in on EGBN. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $64.00 target price on shares of Eagle Bancorp in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Friday, October 20th. Boenning Scattergood reissued a “buy” rating on shares of Eagle Bancorp in a research report on Thursday, October 19th. Finally, BidaskClub downgraded shares of Eagle Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $68.50.
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Shares of Eagle Bancorp, Inc. (NASDAQ EGBN) opened at 67.30 on Friday. Eagle Bancorp, Inc. has a 12 month low of $47.20 and a 12 month high of $68.90. The stock has a market capitalization of $2.30 billion, a PE ratio of 21.92 and a beta of 0.74. The stock’s 50 day moving average is $65.98 and its 200 day moving average is $62.31.
Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.59%. The firm had revenue of $71.94 million during the quarter, compared to the consensus estimate of $72.66 million. During the same period last year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts anticipate that Eagle Bancorp, Inc. will post $3.34 earnings per share for the current fiscal year.
In other Eagle Bancorp news, CEO Ronald D. Paul sold 7,500 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $62.20, for a total transaction of $466,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Janice L. Williams sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $63.32, for a total transaction of $633,200.00. Following the sale, the executive vice president now directly owns 64,940 shares in the company, valued at $4,112,000.80. The disclosure for this sale can be found here. Insiders have sold a total of 141,303 shares of company stock worth $9,116,230 over the last ninety days. 8.39% of the stock is owned by corporate insiders.
About Eagle Bancorp
Eagle Bancorp, Inc is a bank holding company for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank. As of December 31, 2016, the Bank operated 21 banking offices: seven in Montgomery County, Maryland; five located in the District of Columbia, and nine in Northern Virginia.
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