Eric Newell Buys 3,050 Shares of Eagle Bancorp (NASDAQ:EGBN) Stock

Eagle Bancorp, Inc. (NASDAQ:EGBN) CFO Eric Newell acquired 3,050 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average price of $16.55 per share, for a total transaction of $50,477.50. Following the completion of the transaction, the chief financial officer owned 33,615 shares in the company, valued at $556,328.25. The trade was a 9.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Eagle Bancorp Stock Up 6.0%

EGBN stock opened at $16.75 on Wednesday. The stock has a market capitalization of $508.71 million, a PE ratio of -4.23 and a beta of 1.17. The company has a fifty day moving average of $19.04 and a 200-day moving average of $18.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.84 and a current ratio of 0.86. Eagle Bancorp, Inc. has a one year low of $15.03 and a one year high of $30.94.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Monday, September 11th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter. The firm had revenue of $88.48 million during the quarter. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.07%. As a group, analysts expect that Eagle Bancorp, Inc. will post 2.31 EPS for the current year.

Eagle Bancorp Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were paid a $0.01 dividend. The ex-dividend date was Monday, November 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Eagle Bancorp’s payout ratio is -1.01%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc grew its stake in Eagle Bancorp by 102.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 753 shares during the last quarter. Financial Consulate Inc. purchased a new stake in shares of Eagle Bancorp in the third quarter valued at about $34,000. Hantz Financial Services Inc. grew its position in shares of Eagle Bancorp by 298.0% in the third quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 2,378 shares during the last quarter. MAI Capital Management grew its position in shares of Eagle Bancorp by 24.2% in the second quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 671 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Eagle Bancorp during the 2nd quarter worth approximately $70,000. Institutional investors and hedge funds own 78.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on EGBN shares. Piper Sandler cut their price objective on Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Wall Street Zen cut shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $21.25.

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.