Chevy Chase Trust Holdings LLC Lowers Stock Position in Eagle Bancorp, Inc. $EGBN

Chevy Chase Trust Holdings LLC trimmed its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,065 shares of the financial services provider’s stock after selling 2,105 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Eagle Bancorp were worth $742,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its position in shares of Eagle Bancorp by 13.2% in the first quarter. New York State Common Retirement Fund now owns 8,549 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 1,000 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Eagle Bancorp during the 1st quarter valued at $205,000. Aigen Investment Management LP bought a new position in Eagle Bancorp in the 1st quarter worth $209,000. Oppenheimer & Co. Inc. boosted its holdings in Eagle Bancorp by 24.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 10,142 shares of the financial services provider’s stock worth $213,000 after buying an additional 2,000 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in Eagle Bancorp in the 1st quarter worth $248,000. Institutional investors own 78.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on EGBN shares. Wall Street Zen downgraded Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 26th. Zacks Research raised Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Piper Sandler cut their price objective on shares of Eagle Bancorp from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $21.00.

Eagle Bancorp Stock Performance

NASDAQ EGBN opened at $19.46 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.85. Eagle Bancorp, Inc. has a 1-year low of $15.47 and a 1-year high of $30.94. The business has a 50 day simple moving average of $19.92 and a two-hundred day simple moving average of $19.09. The stock has a market capitalization of $590.98 million, a PE ratio of -19.08 and a beta of 1.13.

Eagle Bancorp (NASDAQ:EGBN) last posted its 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 2.54% and a negative net margin of 4.60%.The firm had revenue of $88.48 million during the quarter. On average, research analysts predict that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

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.