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

Principal Financial Group Inc. cut its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 18.7% in the third quarter, HoldingsChannel.com reports. The fund owned 142,219 shares of the financial services provider’s stock after selling 32,741 shares during the period. Principal Financial Group Inc.’s holdings in Eagle Bancorp were worth $3,211,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its stake in Eagle Bancorp by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock worth $16,254,000 after buying an additional 25,578 shares during the period. Empowered Funds LLC increased its holdings in shares of Eagle Bancorp by 5.0% in the third quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock worth $639,000 after acquiring an additional 1,340 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Eagle Bancorp by 4.3% during the third quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 450 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Eagle Bancorp by 41.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 55,627 shares of the financial services provider’s stock valued at $1,256,000 after purchasing an additional 16,338 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Eagle Bancorp by 63.9% in the 3rd quarter. Jane Street Group LLC now owns 71,703 shares of the financial services provider’s stock valued at $1,619,000 after purchasing an additional 27,942 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Eagle Bancorp Stock Up 1.0 %

Shares of Eagle Bancorp stock opened at $25.50 on Friday. The firm has a market cap of $770.15 million, a PE ratio of -18.21 and a beta of 1.09. The business’s 50 day simple moving average is $27.98 and its 200 day simple moving average is $23.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.27. The company had revenue of $180.76 million during the quarter, compared to analysts’ expectations of $80.31 million. Eagle Bancorp had a negative net margin of 5.97% and a positive return on equity of 5.04%. During the same period last year, the business earned $0.91 EPS. On average, analysts predict that Eagle Bancorp, Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EGBN has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Eagle Bancorp from $25.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Piper Sandler initiated coverage on shares of Eagle Bancorp in a research report on Monday, October 21st. They issued a “neutral” rating and a $27.00 price objective on the stock.

Eagle Bancorp Profile

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.