Gabelli Funds LLC Grows Stake in Eagle Bancorp, Inc. (NASDAQ:EGBN)

Gabelli Funds LLC increased its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,000 shares of the financial services provider’s stock after purchasing an additional 3,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.14% of Eagle Bancorp worth $1,010,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in EGBN. Vanguard Group Inc. lifted its stake in shares of Eagle Bancorp by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock valued at $101,351,000 after purchasing an additional 126,085 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Eagle Bancorp by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,044,835 shares of the financial services provider’s stock worth $31,493,000 after purchasing an additional 54,480 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Eagle Bancorp by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 497,083 shares of the financial services provider’s stock worth $14,982,000 after purchasing an additional 38,696 shares during the period. Gamco Investors INC. ET AL increased its holdings in Eagle Bancorp by 1.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 342,171 shares of the financial services provider’s stock worth $8,038,000 after purchasing an additional 5,093 shares during the period. Finally, Epoch Investment Partners Inc. purchased a new position in Eagle Bancorp during the 4th quarter worth $7,801,000. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Insider Activity

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

Eagle Bancorp Trading Down 0.2 %

Shares of NASDAQ:EGBN traded down $0.05 on Friday, reaching $22.60. The company had a trading volume of 460,111 shares, compared to its average volume of 332,699. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $31.97. The firm’s 50 day simple moving average is $18.92 and its 200-day simple moving average is $21.64. The firm has a market capitalization of $682.29 million, a PE ratio of 9.00 and a beta of 1.08.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.34. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. The business had revenue of $175.06 million for the quarter, compared to the consensus estimate of $80.90 million. During the same period last year, the business posted $0.94 EPS. As a group, equities research analysts predict that Eagle Bancorp, Inc. will post 1.03 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Saturday, July 20th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.96%. Eagle Bancorp’s dividend payout ratio is presently 71.71%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded 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.