California State Teachers Retirement System Decreases Holdings in Eagle Bancorp, Inc. (EGBN)

California State Teachers Retirement System cut its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 9.7% in the third quarter, Holdings Channel reports. The institutional investor owned 50,486 shares of the financial services provider’s stock after selling 5,402 shares during the quarter. California State Teachers Retirement System’s holdings in Eagle Bancorp were worth $3,385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Los Angeles Capital Management & Equity Research Inc. raised its stake in Eagle Bancorp by 1.5% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,751 shares of the financial services provider’s stock valued at $427,000 after buying an additional 100 shares during the last quarter. Amalgamated Bank raised its stake in Eagle Bancorp by 7.5% during the 2nd quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock valued at $256,000 after buying an additional 283 shares during the last quarter. Rhumbline Advisers raised its stake in Eagle Bancorp by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 36,428 shares of the financial services provider’s stock valued at $2,306,000 after buying an additional 376 shares during the last quarter. FMR LLC raised its stake in Eagle Bancorp by 8.5% during the 2nd quarter. FMR LLC now owns 4,856 shares of the financial services provider’s stock valued at $307,000 after buying an additional 382 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Eagle Bancorp by 4.8% during the 2nd quarter. Legal & General Group Plc now owns 11,508 shares of the financial services provider’s stock valued at $728,000 after buying an additional 528 shares during the last quarter. Institutional investors and hedge funds own 68.23% of the company’s stock.

In related news, CEO Ronald D. Paul sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $66.47, for a total value of $332,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald D. Paul sold 15,000 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $67.46, for a total transaction of $1,011,900.00. The disclosure for this sale can be found here. Insiders sold a total of 39,959 shares of company stock valued at $2,682,251 in the last ninety days. 8.39% of the stock is currently owned by insiders.

A number of brokerages have weighed in on EGBN. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Wednesday, January 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and set a $64.00 price objective on shares of Eagle Bancorp in a research report on Tuesday, October 3rd. BidaskClub raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. Finally, Boenning Scattergood reissued a “buy” rating on shares of Eagle Bancorp in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $66.25.

Shares of Eagle Bancorp, Inc. (EGBN) opened at $59.55 on Wednesday. Eagle Bancorp, Inc. has a 1 year low of $46.20 and a 1 year high of $69.80. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $2,030.00, a price-to-earnings ratio of 18.73 and a beta of 0.87.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.37%. The firm had revenue of $71.94 million during the quarter, compared to the consensus estimate of $72.66 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. sell-side analysts forecast that Eagle Bancorp, Inc. will post 3.34 earnings per share for the current year.

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Eagle Bancorp 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.

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

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