Morgan Stanley decreased its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 38.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,178 shares of the financial services provider’s stock after selling 39,435 shares during the period. Morgan Stanley owned approximately 0.19% of Eagle Bancorp worth $3,772,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in EGBN. Norges Bank acquired a new position in shares of Eagle Bancorp during the fourth quarter valued at about $14,529,000. Teachers Advisors LLC raised its position in shares of Eagle Bancorp by 11.2% in the fourth quarter. Teachers Advisors LLC now owns 57,057 shares of the financial services provider’s stock valued at $3,478,000 after buying an additional 5,737 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Eagle Bancorp by 26.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 119,802 shares of the financial services provider’s stock valued at $7,152,000 after buying an additional 25,267 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Eagle Bancorp by 35.5% in the first quarter. Fisher Asset Management LLC now owns 62,098 shares of the financial services provider’s stock valued at $3,707,000 after buying an additional 16,259 shares in the last quarter. Finally, Profit Investment Management LLC raised its position in shares of Eagle Bancorp by 24.0% in the first quarter. Profit Investment Management LLC now owns 29,195 shares of the financial services provider’s stock valued at $1,743,000 after buying an additional 5,646 shares in the last quarter. 67.47% of the stock is currently owned by institutional investors.
Eagle Bancorp, Inc. (NASDAQ:EGBN) traded up 0.40% during mid-day trading on Wednesday, reaching $62.25. The company’s stock had a trading volume of 6,722 shares. The firm has a market cap of $2.13 billion, a PE ratio of 20.28 and a beta of 0.70. The stock’s 50 day moving average is $62.73 and its 200 day moving average is $60.80. Eagle Bancorp, Inc. has a one year low of $47.20 and a one year high of $65.00.
Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.04. The firm had revenue of $76.72 million for the quarter, compared to analysts’ expectations of $75.41 million. Eagle Bancorp had a return on equity of 12.55% and a net margin of 36.20%. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, analysts anticipate that Eagle Bancorp, Inc. will post $3.27 EPS for the current year.
EGBN has been the topic of several recent analyst reports. Zacks Investment Research raised Eagle Bancorp from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Thursday, April 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $64.00 target price on shares of Eagle Bancorp in a research report on Friday, May 19th. FIG Partners upgraded Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 price target on the stock in a research note on Monday, May 22nd. Finally, BidaskClub upgraded Eagle Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Eagle Bancorp presently has an average rating of “Hold” and a consensus price target of $67.25.
In related news, Director Leland M. Weinstein sold 3,932 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $62.97, for a total value of $247,598.04. Following the transaction, the director now owns 64,274 shares in the company, valued at approximately $4,047,333.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leland M. Weinstein sold 8,295 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $62.22, for a total value of $516,114.90. Following the completion of the transaction, the director now owns 72,469 shares in the company, valued at approximately $4,509,021.18. The disclosure for this sale can be found here. Insiders sold a total of 32,924 shares of company stock worth $2,074,098 in the last 90 days. 8.39% of the stock is currently owned by insiders.
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.
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).
Receive News & Ratings for Eagle Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.