PNC Financial Services Group Inc. Has $57,000 Stock Position in Eagle Bancorp, Inc. $EGBN

PNC Financial Services Group Inc. reduced its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 53.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,914 shares of the financial services provider’s stock after selling 3,284 shares during the period. PNC Financial Services Group Inc.’s holdings in Eagle Bancorp were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Eagle Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,581 shares of the financial services provider’s stock valued at $369,000 after buying an additional 780 shares in the last quarter. Inspire Investing LLC lifted its stake in Eagle Bancorp by 5.6% in the first quarter. Inspire Investing LLC now owns 16,339 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 860 shares during the last quarter. State of Alaska Department of Revenue grew its position in Eagle Bancorp by 8.0% in the second quarter. State of Alaska Department of Revenue now owns 18,074 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 1,339 shares in the last quarter. CWM LLC grew its position in Eagle Bancorp by 11.9% in the second quarter. CWM LLC now owns 17,106 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 1,819 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Eagle Bancorp by 2.9% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 96,102 shares of the financial services provider’s stock worth $2,018,000 after purchasing an additional 2,728 shares during the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

Eagle Bancorp Stock Up 4.2%

NASDAQ EGBN opened at $19.76 on Tuesday. Eagle Bancorp, Inc. has a twelve month low of $15.03 and a twelve month high of $30.15. The stock has a market cap of $600.13 million, a PE ratio of -4.99 and a beta of 1.17. The firm has a 50-day simple moving average of $18.64 and a 200 day simple moving average of $18.71. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.84 and a current ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Monday, September 11th. The financial services provider reported $1.20 EPS for the quarter. Eagle Bancorp had a negative return on equity of 10.07% and a negative net margin of 18.65%.The firm had revenue of $88.48 million during the quarter. On average, research analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, November 3rd. Eagle Bancorp’s dividend payout ratio (DPR) is -1.01%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, October 8th. Piper Sandler reduced their price target on Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Finally, Zacks Research lowered Eagle Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $21.25.

Insiders Place Their Bets

In other Eagle Bancorp news, CFO Eric R. Newell bought 3,050 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average cost of $16.55 per share, for a total transaction of $50,477.50. Following the transaction, the chief financial officer owned 33,615 shares in the company, valued at approximately $556,328.25. The trade was a 9.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Louis P. Jr. Mathews bought 1,500 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was acquired at an average cost of $17.20 per share, for a total transaction of $25,800.00. Following the purchase, the director owned 10,157 shares of the company’s stock, valued at $174,700.40. This trade represents a 17.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 6,050 shares of company stock worth $101,538 in the last quarter. Corporate insiders own 3.39% of the company’s stock.

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. 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.