Insider Buying: Eagle Bancorp (NASDAQ:EGBN) CEO Acquires $149,581.65 in Stock

Eagle Bancorp, Inc. (NASDAQ:EGBN) CEO Stephen Russell Curley acquired 4,393 shares of the company’s stock in a transaction dated Tuesday, November 10th. The stock was acquired at an average price of $34.05 per share, for a total transaction of $149,581.65. Following the completion of the purchase, the chief executive officer directly owned 54,682 shares of the company’s stock, valued at $1,861,922.10. This trade represents a 8.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Eagle Bancorp Stock Performance

Shares of NASDAQ EGBN traded up $0.06 during trading hours on Friday, hitting $34.44. 464,170 shares of the company’s stock were exchanged, compared to its average volume of 511,598. The company’s 50-day moving average price is $30.03 and its 200-day moving average price is $27.56. Eagle Bancorp, Inc. has a 1-year low of $15.58 and a 1-year high of $35.05. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 19.68 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.87.

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. The firm had revenue of $70.87 million for the quarter, compared to analyst estimates of $71.78 million. Eagle Bancorp had a return on equity of 4.66% and a net margin of 9.30%. On average, sell-side analysts expect that Eagle Bancorp, Inc. will post 1.99 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Friday, November 6th will be given 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 dividend payout ratio is currently 2.29%.

Institutional Investors Weigh In On Eagle Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in Eagle Bancorp by 502.7% during the third quarter. Parallel Advisors LLC now owns 1,326 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,106 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Eagle Bancorp in the 2nd quarter worth approximately $39,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Eagle Bancorp in the 1st quarter worth approximately $37,000. Fortitude Family Office LLC lifted its position in shares of 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 acquiring an additional 1,642 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Eagle Bancorp in the 2nd quarter worth approximately $62,000. 78.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Hovde Group initiated coverage on shares of Eagle Bancorp in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $37.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Wednesday, September 2nd. 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 assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.00.

Eagle Bancorp News Roundup

Investors following EGBN have been watching these news items:

• Positive Sentiment: A recent report said credit costs eased in the third quarter, a potentially favorable development for the bank’s profitability and credit outlook. Report on easing credit costs
• Positive Sentiment: An analyst target increase lifted an estimate of EGBN’s fair value, adding another supportive valuation signal; the article did not specify the revised target in the provided details. Fair value and target report
• Neutral Sentiment: The latest reported quarter beat EPS expectations ($0.79 versus $0.34), but revenue came in slightly below estimates ($70.87 million versus $71.78 million), leaving a mixed operating signal.

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.