Morgan Stanley reduced its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 38.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,178 shares of the financial services provider’s stock after selling 39,435 shares during the period. Morgan Stanley’s holdings in Eagle Bancorp were worth $3,772,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in EGBN. Dimensional Fund Advisors LP raised its stake in shares of Eagle Bancorp by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 794,108 shares of the financial services provider’s stock worth $47,409,000 after buying an additional 33,046 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Eagle Bancorp by 7.2% in the first quarter. Geode Capital Management LLC now owns 250,644 shares of the financial services provider’s stock worth $14,963,000 after buying an additional 16,775 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Eagle Bancorp by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,394,795 shares of the financial services provider’s stock worth $142,970,000 after buying an additional 95,371 shares in the last quarter. Redwood Investments LLC raised its stake in shares of Eagle Bancorp by 17.9% in the first quarter. Redwood Investments LLC now owns 100,502 shares of the financial services provider’s stock worth $6,000,000 after buying an additional 15,231 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Eagle Bancorp by 23.4% in the first quarter. TIAA CREF Investment Management LLC now owns 106,206 shares of the financial services provider’s stock worth $6,340,000 after buying an additional 20,122 shares in the last quarter. 67.47% of the stock is currently owned by institutional investors.

Shares of Eagle Bancorp, Inc. (EGBN) traded up 0.40% during midday trading on Wednesday, hitting $62.25. The stock had a trading volume of 6,722 shares. The firm has a 50 day moving average of $62.73 and a 200-day moving average of $60.80. Eagle Bancorp, Inc. has a one year low of $47.20 and a one year high of $65.00. The company has a market cap of $2.13 billion, a P/E ratio of 20.28 and a beta of 0.70.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04. Eagle Bancorp had a net margin of 36.20% and a return on equity of 12.55%. The business had revenue of $76.72 million for the quarter, compared to analyst estimates of $75.41 million. During the same quarter last year, the business earned $0.71 earnings per share. On average, analysts forecast that Eagle Bancorp, Inc. will post $3.27 earnings per share for the current fiscal year.

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A number of equities research analysts have weighed in on the company. BidaskClub lowered Eagle Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Zacks Investment Research raised Eagle Bancorp from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Tuesday, July 25th. FIG Partners raised Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 price objective on the stock in a report on Monday, May 22nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $64.00 price objective on shares of Eagle Bancorp in a report on Friday, May 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.25.

In related news, EVP Janice L. Williams sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $63.17, for a total transaction of $631,700.00. Following the completion of the sale, the executive vice president now directly owns 73,490 shares in the company, valued at $4,642,363.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald D. Paul sold 706 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $64.12, for a total transaction of $45,268.72. The disclosure for this sale can be found here. Insiders have sold 32,924 shares of company stock worth $2,074,098 in the last quarter. Company insiders own 8.39% of the company’s stock.

About Eagle Bancorp

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.

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

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