Eagle Bancorp (NASDAQ:EGBN) Stock: Insider A. Leslie Ludwig Sells 14,669 Shares

Eagle Bancorp, Inc. (NASDAQ:EGBN) Director A. Ludwig sold 14,669 shares of Eagle Bancorp stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $33.63, for a total value of $493,318.47. Following the transaction, the director owned 40,359 shares of the company’s stock, valued at $1,357,273.17. This represents a 26.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

A. Leslie Ludwig also recently made the following trade(s):

• On Friday, November 6th, A. Ludwig sold 2,000 shares of Eagle Bancorp stock. The stock was sold at an average price of $33.87, for a total transaction of $67,740.00.

Eagle Bancorp Stock Up 0.8%

Shares of EGBN opened at $34.30 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.07. Eagle Bancorp, Inc. has a 12 month low of $15.58 and a 12 month high of $35.05. The firm’s 50 day moving average is $29.76 and its 200-day moving average is $27.48. The stock has a market capitalization of $1.05 billion, a PE ratio of 19.60 and a beta of 0.97.

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

Eagle Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Eagle Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Stone Point Capital LLC acquired a new position in shares of Eagle Bancorp in the 2nd quarter valued at about $21,660,548,000. Wellington Management Group LLP grew its holdings in Eagle Bancorp by 5.9% in the second quarter. Wellington Management Group LLP now owns 1,233,336 shares of the financial services provider’s stock worth $35,014,000 after purchasing an additional 68,314 shares during the period. Bank of New York Mellon Corp bought a new stake in Eagle Bancorp in the second quarter valued at $4,678,000. Quantinno Capital Management LP raised its holdings in shares of Eagle Bancorp by 15.2% during the first quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider’s stock valued at $4,673,000 after purchasing an additional 24,842 shares during the period. Finally, Principal Financial Group Inc. increased its position in Eagle Bancorp by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 134,598 shares of the financial services provider’s stock valued at $3,347,000 after buying an additional 2,776 shares in the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EGBN. Hovde Group started coverage on Eagle Bancorp in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $37.00 price objective on the stock. Zacks Research raised shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.00.

About Eagle Bancorp

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.