Eagle Bancorp, Inc. (EGBN) Position Reduced by Chevy Chase Trust Holdings Inc.

Chevy Chase Trust Holdings Inc. lowered its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,556 shares of the financial services provider’s stock after selling 5,062 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.34% of Eagle Bancorp worth $7,681,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in EGBN. Wasatch Advisors Inc. lifted its position in Eagle Bancorp by 19.4% in the second quarter. Wasatch Advisors Inc. now owns 2,153,740 shares of the financial services provider’s stock valued at $136,332,000 after purchasing an additional 350,204 shares during the period. Jennison Associates LLC lifted its position in Eagle Bancorp by 23.7% in the third quarter. Jennison Associates LLC now owns 1,291,987 shares of the financial services provider’s stock valued at $86,628,000 after purchasing an additional 247,254 shares during the period. Vanguard Group Inc. lifted its position in Eagle Bancorp by 5.4% in the second quarter. Vanguard Group Inc. now owns 2,523,941 shares of the financial services provider’s stock valued at $159,766,000 after purchasing an additional 129,146 shares during the period. BlackRock Inc. lifted its position in Eagle Bancorp by 5.3% in the second quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock valued at $130,506,000 after purchasing an additional 103,343 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Eagle Bancorp by 5.0% in the third quarter. Victory Capital Management Inc. now owns 1,386,541 shares of the financial services provider’s stock valued at $92,968,000 after purchasing an additional 66,279 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

In other news, CEO Ronald D. Paul sold 4,217 shares of Eagle Bancorp stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $63.75, for a total transaction of $268,833.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ronald D. Paul sold 3,672 shares of Eagle Bancorp stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $63.57, for a total transaction of $233,429.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,262 shares of company stock valued at $7,632,260. Insiders own 8.39% of the company’s stock.

Shares of Eagle Bancorp, Inc. (NASDAQ EGBN) opened at $58.90 on Friday. Eagle Bancorp, Inc. has a 12-month low of $46.20 and a 12-month high of $69.80. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $1,984.03, a P/E ratio of 18.14 and a beta of 0.87.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.37%. The company 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 earned $0.72 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. sell-side analysts anticipate that Eagle Bancorp, Inc. will post 3.34 earnings per share for the current year.

A number of brokerages recently commented on EGBN. Keefe, Bruyette & Woods restated a “hold” rating and issued a $64.00 price objective on shares of Eagle Bancorp in a research report 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 price objective for the company in a research report on Friday, October 20th. Boenning Scattergood restated a “buy” rating on shares of Eagle Bancorp in a research report on Thursday, October 19th. Finally, BidaskClub upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $68.50.

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Eagle Bancorp Company Profile

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.

Institutional Ownership by Quarter for Eagle Bancorp (NASDAQ:EGBN)

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