Texas Permanent School Fund Corp Raises Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Texas Permanent School Fund Corp boosted its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 47.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 38,514 shares of the financial services provider’s stock after purchasing an additional 12,323 shares during the period. Texas Permanent School Fund Corp’s holdings in Eagle Bancorp were worth $728,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EGBN. Charles Schwab Investment Management Inc. grew its stake in Eagle Bancorp by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 497,083 shares of the financial services provider’s stock valued at $14,982,000 after acquiring an additional 38,696 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Eagle Bancorp in the 4th quarter worth approximately $200,000. BNP Paribas Financial Markets grew its stake in Eagle Bancorp by 21.3% in the 4th quarter. BNP Paribas Financial Markets now owns 52,691 shares of the financial services provider’s stock worth $1,588,000 after buying an additional 9,255 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Eagle Bancorp by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,044,835 shares of the financial services provider’s stock worth $31,493,000 after buying an additional 54,480 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Eagle Bancorp in the 4th quarter worth approximately $327,000. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EGBN. Keefe, Bruyette & Woods boosted their price target on shares of Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. StockNews.com cut shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research note on Sunday, June 9th.

Eagle Bancorp Price Performance

Shares of Eagle Bancorp stock opened at $22.91 on Friday. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $31.97. The stock has a market capitalization of $691.65 million, a price-to-earnings ratio of 9.13 and a beta of 1.09. The company has a fifty day moving average of $21.21 and a 200-day moving average of $20.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.02 and a current ratio of 1.02.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.34. Eagle Bancorp had a negative net margin of 5.28% and a positive return on equity of 5.50%. The company had revenue of $175.06 million during the quarter, compared to analysts’ expectations of $80.90 million. During the same quarter in the prior year, the company earned $0.94 EPS. Equities research analysts expect that Eagle Bancorp, Inc. will post 1.46 EPS for the current year.

Eagle Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Saturday, July 20th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.86%. Eagle Bancorp’s dividend payout ratio (DPR) is 71.71%.

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.