Principal Financial Group Inc. Decreases Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Posted by Defense World Staff on Sep 1st, 2023

Principal Financial Group Inc. trimmed its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN – Free Report) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,606 shares of the financial services provider’s stock after selling 8,247 shares during the quarter. Principal Financial Group Inc. owned approximately 0.64% of Eagle Bancorp worth $6,714,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in shares of Eagle Bancorp during the first quarter worth $32,000. Nisa Investment Advisors LLC increased its stake in Eagle Bancorp by 178.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,950 shares of the financial services provider’s stock valued at $65,000 after buying an additional 1,250 shares during the period. Captrust Financial Advisors increased its stake in Eagle Bancorp by 74.6% during the 1st quarter. Captrust Financial Advisors now owns 2,353 shares of the financial services provider’s stock valued at $134,000 after buying an additional 1,005 shares during the period. Point72 Hong Kong Ltd acquired a new position in Eagle Bancorp during the 2nd quarter valued at about $121,000. Finally, Counterpoint Mutual Funds LLC acquired a new position in Eagle Bancorp during the 1st quarter valued at about $112,000. 76.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Piper Sandler raised their price objective on shares of Eagle Bancorp from $24.00 to $30.00 in a research report on Tuesday, August 1st.

Get Our Latest Research Report on EGBN

Eagle Bancorp Stock Performance

Shares of EGBN opened at $24.06 on Friday. Eagle Bancorp, Inc. has a one year low of $16.72 and a one year high of $49.09. The company has a 50-day moving average of $24.51 and a two-hundred day moving average of $28.06. The stock has a market cap of $719.63 million, a price-to-earnings ratio of 5.73 and a beta of 0.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.82 and a quick ratio of 0.82.

Eagle Bancorp (NASDAQ:EGBN – Get Free Report) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.71 by $0.23. Eagle Bancorp had a net margin of 23.63% and a return on equity of 10.79%. The company had revenue of $80.41 million during the quarter, compared to analysts’ expectations of $74.15 million. On average, equities research analysts expect that Eagle Bancorp, Inc. will post 3.13 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Thursday, July 20th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.48%. The ex-dividend date of this dividend was Wednesday, July 19th. Eagle Bancorp’s payout ratio is 42.86%.

Eagle Bancorp Profile

(Free Report)

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.