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

Eagle Bancorp, Inc. (NASDAQ:EGBN) CFO Eric Newell purchased 1,470 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was acquired at an average cost of $33.91 per share, with a total value of $49,847.70. Following the transaction, the chief financial officer directly owned 9,303 shares of the company’s stock, valued at approximately $315,464.73. This represents a 18.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Eagle Bancorp Stock Up 0.8%

Shares of EGBN opened at $34.30 on Thursday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 19.60 and a beta of 0.97. 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 12 month low of $15.58 and a 12 month high of $35.05. The company has a 50-day moving average price of $29.76 and a two-hundred day moving average price of $27.48.

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

Eagle Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Friday, November 6th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, November 6th. Eagle Bancorp’s dividend payout ratio (DPR) is 2.29%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Eagle Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EGBN. Versant Capital Management Inc raised its stake in shares of Eagle Bancorp by 16.2% in the second quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 493 shares during the last quarter. Hilton Head Capital Partners LLC boosted its holdings in shares of Eagle Bancorp by 3.3% in the 3rd quarter. Hilton Head Capital Partners LLC now owns 19,011 shares of the financial services provider’s stock worth $528,000 after acquiring an additional 599 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Eagle Bancorp by 1.9% in the 1st quarter. Swiss National Bank now owns 60,032 shares of the financial services provider’s stock worth $1,493,000 after acquiring an additional 1,100 shares in the last quarter. Parallel Advisors LLC grew its position 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 acquiring an additional 1,106 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Eagle Bancorp during the 2nd quarter worth approximately $39,000. 78.03% of the stock is currently owned by institutional investors and hedge funds.

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.