Key Points
- Director A. Leslie Ludwig sold 14,669 Eagle Bancorp shares for about $493,000, reducing the holding by 26.66% to 40,359 shares. Ludwig also reported a separate sale of 2,000 shares that day.
- Eagle Bancorp reported quarterly EPS of $0.79, beating the $0.34 analyst consensus, while revenue of $70.87 million came in slightly below estimates.
- Analysts’ consensus rating is Hold, with an average price target of $31; the stock opened at $34.04 in the article’s cited session.
Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report) Director A. Ludwig sold 14,669 shares of the company's stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $33.63, for a total value of $493,318.47. Following the sale, the director owned 40,359 shares in the company, valued at $1,357,273.17. The trade was a 26.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value of $67,740.00.
Eagle Bancorp Price Performance
Shares of EGBN opened at $34.04 on Wednesday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 19.45 and a beta of 0.97. The stock has a 50 day moving average of $29.61 and a 200-day moving average of $27.44. 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 52 week low of $15.58 and a 52 week high of $35.05.
Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $70.87 million during the quarter, compared to the consensus estimate of $71.78 million. Eagle Bancorp had a return on equity of 4.66% and a net margin of 9.30%. As a group, analysts forecast that Eagle Bancorp, Inc. will post 1.84 EPS for the current year.
Eagle Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Friday, November 6th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Friday, November 6th. Eagle Bancorp's payout ratio is currently 2.29%.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Zacks Research raised shares of Eagle Bancorp from a "strong sell" rating to a "hold" rating in a report on Thursday, August 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. Finally, Hovde Group initiated coverage on shares of Eagle Bancorp in a report on Wednesday, October 7th. They issued an "outperform" rating and a $37.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $31.00.
Check Out Our Latest Research Report on EGBN
Hedge Funds Weigh In On Eagle Bancorp
Several hedge funds and other institutional investors have recently modified their holdings of EGBN. Stone Point Capital LLC bought a new position in Eagle Bancorp in the 2nd quarter worth about $21,660,548,000. Wellington Management Group LLP increased its stake in shares of 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 valued at $35,014,000 after purchasing an additional 68,314 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Eagle Bancorp in the second quarter valued at approximately $4,678,000. Hsbc Holdings PLC bought a new stake in shares of Eagle Bancorp during the fourth quarter valued at approximately $535,000. Finally, 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 buying an additional 24,842 shares during the last quarter. Institutional investors and hedge funds own 78.03% of the company's stock.
About Eagle Bancorp
(
Get Free Report)
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.
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