Eagle Bancorp, Inc. (NASDAQ:EGBN) Shares Sold by WBI Investments LLC

WBI Investments LLC lowered its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 29.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,917 shares of the financial services provider’s stock after selling 5,085 shares during the period. WBI Investments LLC’s holdings in Eagle Bancorp were worth $280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EGBN. GSA Capital Partners LLP grew its stake in shares of Eagle Bancorp by 130.5% in the 1st quarter. GSA Capital Partners LLP now owns 47,616 shares of the financial services provider’s stock valued at $1,118,000 after buying an additional 26,962 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Eagle Bancorp by 16.4% during the 1st quarter. BNP Paribas Financial Markets now owns 61,311 shares of the financial services provider’s stock worth $1,440,000 after purchasing an additional 8,620 shares during the period. Principal Financial Group Inc. raised its holdings in Eagle Bancorp by 14.2% in the 1st quarter. Principal Financial Group Inc. now owns 178,102 shares of the financial services provider’s stock valued at $4,184,000 after buying an additional 22,172 shares during the period. New York State Teachers Retirement System lifted its position in Eagle Bancorp by 26.0% in the first quarter. New York State Teachers Retirement System now owns 14,488 shares of the financial services provider’s stock valued at $340,000 after buying an additional 2,988 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Eagle Bancorp by 19.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 13,386 shares of the financial services provider’s stock worth $314,000 after buying an additional 2,173 shares during the period. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Price Performance

Shares of EGBN stock traded up $1.39 on Thursday, hitting $20.35. The stock had a trading volume of 227,686 shares, compared to its average volume of 310,716. The company’s 50 day moving average price is $18.42 and its 200-day moving average price is $22.24. Eagle Bancorp, Inc. has a 1 year low of $15.99 and a 1 year high of $31.97. The firm has a market capitalization of $614.37 million, a P/E ratio of 8.07 and a beta of 1.08.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results 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 return on equity of 6.11% and a net margin of 11.14%. The business had revenue of $78.29 million for the quarter, compared to analysts’ expectations of $75.51 million. On average, equities analysts forecast that Eagle Bancorp, Inc. will post 1.36 EPS for the current year.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Saturday, July 20th will be given a $0.45 dividend. The ex-dividend date is Friday, July 19th. This represents a $1.80 annualized dividend and a yield of 8.85%. Eagle Bancorp’s dividend payout ratio is presently 71.71%.

Insider Transactions at Eagle Bancorp

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

Wall Street Analysts Forecast Growth

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

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.