First Trust Advisors LP decreased its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 9.5% during the 1st quarter, Holdings Channel reports. The firm owned 67,040 shares of the financial services provider’s stock after selling 7,015 shares during the quarter. First Trust Advisors LP’s holdings in Eagle Bancorp were worth $3,365,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of EGBN. LS Investment Advisors LLC purchased a new position in shares of Eagle Bancorp during the fourth quarter worth about $45,000. Flinton Capital Management LLC purchased a new position in shares of Eagle Bancorp during the fourth quarter worth about $80,000. Neuburgh Advisers LLC purchased a new position in shares of Eagle Bancorp during the fourth quarter worth about $98,000. Pearl River Capital LLC purchased a new position in shares of Eagle Bancorp during the first quarter worth about $104,000. Finally, Whittier Trust Co. purchased a new position in shares of Eagle Bancorp during the fourth quarter worth about $187,000. 76.01% of the stock is currently owned by institutional investors.

NASDAQ EGBN opened at $55.24 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.04 and a current ratio of 1.04. Eagle Bancorp, Inc. has a 52-week low of $45.15 and a 52-week high of $65.42. The stock has a market cap of $1.91 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.52 and a beta of 0.97.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.02). The firm had revenue of $81.02 million during the quarter, compared to analyst estimates of $82.25 million. Eagle Bancorp had a net margin of 34.72% and a return on equity of 14.28%. Eagle Bancorp’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.04 EPS. Analysts predict that Eagle Bancorp, Inc. will post 4.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.22 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.59%. Eagle Bancorp’s payout ratio is currently 19.91%.

EGBN has been the topic of a number of research reports. Sandler O’Neill set a $60.00 price target on Eagle Bancorp and gave the stock a “buy” rating in a report on Monday, April 22nd. BidaskClub lowered Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Zacks Investment Research lowered Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Stephens set a $58.00 price target on Eagle Bancorp and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, ValuEngine lowered Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $63.00.

WARNING: This news story was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2019/06/16/first-trust-advisors-lp-reduces-holdings-in-eagle-bancorp-inc-nasdaqegbn.html.

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. It accepts business and personal checking, NOW, tiered savings, and money market accounts, as well as individual retirement and investment sweep accounts; and time deposits.

See Also: Diversification in Investing

Want to see what other hedge funds are holding EGBN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eagle Bancorp, Inc. (NASDAQ:EGBN).

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

Receive News & Ratings for Eagle Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.