PNC Financial Services Group Inc. Has $187,000 Stock Position in Eagle Bancorp, Inc. (NASDAQ:EGBN)

PNC Financial Services Group Inc. cut its holdings in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 29.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,198 shares of the financial services provider’s stock after selling 2,621 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Eagle Bancorp were worth $187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of EGBN. Kestra Advisory Services LLC acquired a new position in shares of Eagle Bancorp during the 3rd quarter valued at $225,000. Mariner LLC raised its holdings in shares of Eagle Bancorp by 13.4% during the third quarter. Mariner LLC now owns 25,043 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 2,954 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Eagle Bancorp by 175.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,877 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 17,135 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Eagle Bancorp by 378.9% during the 3rd quarter. AQR Capital Management LLC now owns 361,217 shares of the financial services provider’s stock worth $7,748,000 after purchasing an additional 285,790 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Eagle Bancorp by 9.6% in the 3rd quarter. American Century Companies Inc. now owns 322,662 shares of the financial services provider’s stock valued at $6,921,000 after buying an additional 28,384 shares during the period. 78.03% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Susan G. Riel purchased 5,260 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was acquired at an average price of $18.73 per share, for a total transaction of $98,519.80. Following the completion of the acquisition, the chief executive officer now owns 332,210 shares of the company’s stock, valued at approximately $6,222,293.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eagle Bancorp news, Director A. Leslie Ludwig bought 1,500 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average price of $16.89 per share, for a total transaction of $25,335.00. Following the purchase, the director now directly owns 41,413 shares of the company’s stock, valued at $699,465.57. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Susan G. Riel purchased 5,260 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average cost of $18.73 per share, with a total value of $98,519.80. Following the completion of the transaction, the chief executive officer now directly owns 332,210 shares of the company’s stock, valued at approximately $6,222,293.30. The disclosure for this purchase can be found here. Insiders have purchased 9,582 shares of company stock worth $173,108 over the last 90 days. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, June 9th.

Eagle Bancorp Trading Up 1.4 %

Shares of EGBN stock opened at $19.00 on Wednesday. The firm has a fifty day simple moving average of $18.58 and a two-hundred day simple moving average of $22.69. Eagle Bancorp, Inc. has a 12 month low of $15.99 and a 12 month high of $31.97. The firm has a market capitalization of $573.61 million, a PE ratio of 7.57 and a beta of 1.08.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.60). Eagle Bancorp had a net margin of 11.14% and a return on equity of 6.11%. The business had revenue of $78.29 million for the quarter, compared to analyst estimates of $75.51 million. On average, equities analysts predict that Eagle Bancorp, Inc. will post 1.36 earnings per share for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Saturday, July 20th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 9.47%. The ex-dividend date of this dividend is Saturday, July 20th. Eagle Bancorp’s dividend payout ratio (DPR) is presently 71.71%.

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.