Eagle Bancorp (NASDAQ:EGBN) Stock: Insider Eric Newell Purchases 1,470 Shares

Eagle Bancorp, Inc. (NASDAQ:EGBN) CFO Eric Newell acquired 1,470 shares of the company’s stock in a transaction dated Tuesday, November 10th. The shares were bought at an average cost of $33.91 per share, with a total value of $49,847.70. Following the purchase, the chief financial officer owned 9,303 shares in the company, valued at approximately $315,464.73. The trade was a 18.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Eagle Bancorp Trading Down 0.3%

Shares of EGBN stock traded down $0.11 during trading hours on Tuesday, hitting $34.04. 226,644 shares of the company were exchanged, compared to its average volume of 331,825. The firm has a fifty day moving average of $29.48 and a 200 day moving average of $27.41. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.07. Eagle Bancorp, Inc. has a 1 year low of $15.58 and a 1 year high of $35.05. The firm has a market cap of $1.04 billion, a PE ratio of 19.45 and a beta of 0.97.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, October 21st. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.45. Eagle Bancorp had a net margin of 9.30% and a return on equity of 4.66%. The firm had revenue of $70.87 million during the quarter, compared to the consensus estimate of $71.78 million. Analysts expect that Eagle Bancorp, Inc. will post 1.84 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Friday, November 6th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, November 6th. Eagle Bancorp’s payout ratio is currently 2.29%.

Analysts Set New Price Targets

A number of research firms recently issued reports on EGBN. Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. Hovde Group initiated coverage on shares of Eagle Bancorp in a research report on Wednesday, October 7th. They set an “outperform” rating and a $37.00 price target on the stock. Finally, Zacks Research upgraded shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.00.

Hedge Funds Weigh In On Eagle Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cassaday & Co Wealth Management LLC acquired a new stake in Eagle Bancorp during the 1st quarter valued at $37,000. Parallel Advisors LLC increased its stake in Eagle Bancorp by 502.7% during the 3rd quarter. Parallel Advisors LLC now owns 1,326 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,106 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Eagle Bancorp in the 2nd quarter worth $39,000. Fortitude Family Office LLC lifted its holdings in Eagle Bancorp by 2,280.6% in the 3rd quarter. Fortitude Family Office LLC now owns 1,714 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,642 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Eagle Bancorp in the 2nd quarter worth $62,000. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc. is the bank holding company for EagleBank, a community bank headquartered in Bethesda, Maryland. Founded in 1998, EagleBank serves businesses, organizations and individuals in the Washington, D.C., metropolitan area, including parts of Maryland and Northern Virginia. The company provides commercial and consumer banking services, including business and commercial real estate lending, deposit accounts, cash management and other treasury services. EagleBank also offers banking and lending products to individuals and nonprofit organizations.