Insider Buying: Eagle Bancorp (NASDAQ:EGBN) CFO Acquires 1,470 Shares of Stock

Eagle Bancorp, Inc. (NASDAQ:EGBN) CFO Eric Newell purchased 1,470 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was acquired at an average price of $33.91 per share, for a total transaction of $49,847.70. Following the purchase, the chief financial officer owned 9,303 shares of the company’s stock, valued at approximately $315,464.73. This represents a 18.77% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Eagle Bancorp Stock Down 0.3%

EGBN traded down $0.11 on Tuesday, reaching $34.04. The company’s stock had a trading volume of 226,644 shares, compared to its average volume of 331,825. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 19.45 and a beta of 0.97. Eagle Bancorp, Inc. has a 1 year low of $15.58 and a 1 year high of $35.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50 day moving average is $29.48 and its 200 day moving average is $27.41.

Eagle Bancorp (NASDAQ:EGBN) last issued 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 firm had revenue of $70.87 million during the quarter, compared to analyst estimates of $71.78 million. As a group, research analysts forecast that Eagle Bancorp, Inc. will post 1.84 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

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

Institutional Trading of Eagle Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC lifted its holdings in Eagle Bancorp by 11.4% during the 3rd quarter. Voya Investment Management LLC now owns 25,617 shares of the financial services provider’s stock worth $712,000 after buying an additional 2,624 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Eagle Bancorp by 20.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 114,406 shares of the financial services provider’s stock worth $3,222,000 after acquiring an additional 19,045 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Eagle Bancorp by 288.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 56,195 shares of the financial services provider’s stock worth $1,562,000 after acquiring an additional 41,717 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Eagle Bancorp by 502.7% in the 3rd 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 last quarter. Finally, Hughes Financial Services LLC increased its holdings in shares of Eagle Bancorp by 693,000.0% in the 3rd quarter. Hughes Financial Services LLC now owns 6,931 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 6,930 shares during the last quarter. 78.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EGBN. Hovde Group began coverage on shares of Eagle Bancorp in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $37.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eagle Bancorp in a report 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 issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Eagle Bancorp currently has an average rating of “Hold” and a consensus target price 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.