The Texas Permanent School Fund holds $1.29 million in shares of Eagle Bancorp, Inc. (NASDAQ: EGBN)
Texas Permanent School Fund reduced its position in shares of Eagle Bancorp, Inc. (NASDAQ: EGBN – Get a rating) by 1.6% in the first quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor held 22,649 shares of the financial services provider after selling 379 shares during the quarter. Texas Permanent School Fund held approximately 0.07% of Eagle Bancorp worth $1,291,000 when it last filed with the SEC.
A number of other hedge funds have also recently changed their positions in the company. Victory Capital Management Inc. increased its stake in shares of Eagle Bancorp by 7.9% during the first quarter. Victory Capital Management Inc. now owns 1,577,404 shares of the financial services provider valued at $89,480,000 after buying an additional 115,267 shares last quarter. Geode Capital Management LLC increased its stake in shares of Eagle Bancorp by 9.8% during the fourth quarter. Geode Capital Management LLC now owns 548,878 shares of the financial services provider valued at $32,021,000 after purchasing an additional 48,783 shares last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Eagle Bancorp by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 280,614 shares of the financial services provider worth $16,372,000 after acquiring 3,917 additional shares during the period. Epoch Investment Partners Inc. increased its stake in shares of Eagle Bancorp by 0.5% in the fourth quarter. Epoch Investment Partners Inc. now owns 210,437 shares of the financial services provider worth $12,277,000 after acquiring an additional 1,105 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Eagle Bancorp shares by 60.6% in the fourth quarter. JPMorgan Chase & Co. now owns 158,591 shares of the financial services provider worth $9,252,000 after acquiring an additional 59,870 shares during the period. 73.83% of the shares are held by institutional investors and hedge funds.
Eagle Bancorp Price Performance
Eagle Bancorp Stock opened at $49.78 on Monday. The stock’s 50-day moving average is $47.49 and its 200-day moving average is $52.62. The company has a debt ratio of 0.06, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $1.60 billion, a P/E ratio of 10.24 and a beta of 0.94. Eagle Bancorp, Inc. has a one-year low of $44.85 and a one-year high of $63.84.
Eagle Bancorp (NASDAQ: EGBN – Get a rating) last released its quarterly results on Wednesday, July 20. The financial services provider reported earnings per share (EPS) of $0.78 for the quarter, missing the consensus estimate of $1.15 per ($0.37). Eagle Bancorp had a net margin of 39.92% and a return on equity of 13.01%. The company posted revenue of $88.48 million in the quarter, versus analyst estimates of $91.00 million. During the same period last year, the company posted earnings per share of $1.50. As a group, research analysts expect Eagle Bancorp, Inc. to post EPS of 4.5 for the current year.
Eagle Bancorp increases its dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 29. Shareholders of record on Monday, July 11 received a dividend of $0.45. The ex-dividend date was Friday, July 8. This is a positive change from Eagle Bancorp’s previous quarterly dividend of $0.40. This represents an annualized dividend of $1.80 and a yield of 3.62%. Eagle Bancorp’s payout ratio is 37.04%.
Wall Street analysts predict growth
Separately, StockNews.com downgraded Eagle Bancorp from a “hold” rating to a “sell” rating in a Friday, July 22 research note.
Profile of Eagle Bancorp
Eagle Bancorp, Inc operates as a bank holding company for EagleBank which provides commercial and consumer banking services primarily in the United States. The Company also offers various consumer and commercial loan products including commercial loans for working capital, equipment purchase, home equity lines of credit and government contract financing; asset-based lending and accounts receivable financing; construction loans and commercial real estate; commercial equipment financing; consumer home equity lines of credit, personal lines of credit and term loans; consumer installment loans, such as car and personal loans; personal credit cards; and residential mortgages.
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