Texas Permanent School Fund Corp Sells 1,078 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN)

Texas Permanent School Fund Corp trimmed its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,034 shares of the financial services provider’s stock after selling 1,078 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Eagle Bancorp were worth $572,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in Eagle Bancorp by 1.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 19,864 shares of the financial services provider’s stock worth $942,000 after buying an additional 230 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Eagle Bancorp by 2.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 12,420 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 277 shares during the last quarter. Mariner LLC raised its holdings in Eagle Bancorp by 2.0% during the 4th quarter. Mariner LLC now owns 20,003 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 391 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Eagle Bancorp by 1.1% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 38,521 shares of the financial services provider’s stock worth $1,727,000 after purchasing an additional 419 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in Eagle Bancorp by 0.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 83,198 shares of the financial services provider’s stock worth $3,667,000 after purchasing an additional 492 shares during the last quarter. 76.10% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Ryan Riel sold 6,282 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $24.17, for a total transaction of $151,835.94. Following the completion of the sale, the executive vice president now owns 25,860 shares in the company, valued at $625,036.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Theresa G. Laplaca sold 3,000 shares of Eagle Bancorp stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $21.34, for a total transaction of $64,020.00. Following the transaction, the director now owns 18,291 shares of the company’s stock, valued at $390,329.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ryan Riel sold 6,282 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $24.17, for a total value of $151,835.94. Following the completion of the sale, the executive vice president now directly owns 25,860 shares of the company’s stock, valued at $625,036.20. The disclosure for this sale can be found here. Corporate insiders own 2.09% of the company’s stock.

Eagle Bancorp Price Performance

Eagle Bancorp stock opened at $24.13 on Tuesday. The stock’s 50 day moving average price is $21.18 and its two-hundred day moving average price is $22.41. Eagle Bancorp, Inc. has a 52-week low of $16.72 and a 52-week high of $49.04. The stock has a market capitalization of $722.11 million, a price-to-earnings ratio of 6.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.83 and a current ratio of 0.83.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.17. Eagle Bancorp had a net margin of 20.05% and a return on equity of 9.99%. The firm had revenue of $77.07 million for the quarter, compared to analyst estimates of $73.98 million. On average, equities analysts predict that Eagle Bancorp, Inc. will post 3.32 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 20th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, October 19th. This represents a $1.80 annualized dividend and a dividend yield of 7.46%. Eagle Bancorp’s dividend payout ratio is 45.57%.

Analyst Ratings Changes

Several research firms have issued reports on EGBN. Piper Sandler lowered their price target on shares of Eagle Bancorp from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, October 31st. StockNews.com downgraded Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Monday, November 6th.

Eagle Bancorp Company 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.