PNC Financial Services Group Inc. Has $80.55 Million Position in Eagle Bancorp, Inc. (EGBN)

PNC Financial Services Group Inc. lessened its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 2.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,272,497 shares of the financial services provider’s stock after selling 29,245 shares during the period. PNC Financial Services Group Inc. owned about 3.72% of Eagle Bancorp worth $80,549,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Amalgamated Bank raised its holdings in Eagle Bancorp by 7.5% during the second quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 283 shares in the last quarter. BlackRock Inc. raised its holdings in Eagle Bancorp by 5.3% during the second quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock worth $130,506,000 after acquiring an additional 103,343 shares in the last quarter. Nationwide Fund Advisors raised its holdings in Eagle Bancorp by 16.3% during the second quarter. Nationwide Fund Advisors now owns 50,279 shares of the financial services provider’s stock worth $3,183,000 after acquiring an additional 7,044 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Eagle Bancorp by 35.9% during the second quarter. TIAA CREF Investment Management LLC now owns 144,332 shares of the financial services provider’s stock worth $9,136,000 after acquiring an additional 38,126 shares in the last quarter. Finally, Teachers Advisors LLC raised its holdings in Eagle Bancorp by 10.3% during the second quarter. Teachers Advisors LLC now owns 298,746 shares of the financial services provider’s stock worth $18,911,000 after acquiring an additional 27,949 shares in the last quarter. Institutional investors and hedge funds own 68.17% of the company’s stock.

EGBN has been the topic of several analyst reports. FIG Partners upgraded Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 target price on the stock in a report on Monday, May 22nd. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Thursday, June 8th. Finally, BidaskClub upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $66.50.

Eagle Bancorp, Inc. (EGBN) traded up 0.87% during mid-day trading on Friday, reaching $63.60. The company’s stock had a trading volume of 243,399 shares. Eagle Bancorp, Inc. has a 52-week low of $47.20 and a 52-week high of $65.00. The firm has a 50 day moving average price of $62.21 and a 200 day moving average price of $60.87. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 20.72 and a beta of 0.72.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.04. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.17%. The firm had revenue of $76.72 million for the quarter, compared to analysts’ expectations of $75.41 million. During the same quarter last year, the firm earned $0.71 EPS. Equities research analysts anticipate that Eagle Bancorp, Inc. will post $3.27 earnings per share for the current year.

In other Eagle Bancorp news, CEO Ronald D. Paul sold 706 shares of Eagle Bancorp stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $64.12, for a total transaction of $45,268.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ronald D. Paul sold 7,791 shares of Eagle Bancorp stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $63.50, for a total transaction of $494,728.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,557 shares of company stock worth $4,269,429. Insiders own 8.39% of the company’s stock.

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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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