Insider Buying: Eagle Bancorp (NASDAQ:EGBN) CFO Acquires $50,477.50 in Stock

Eagle Bancorp, Inc. (NASDAQ:EGBN) CFO Eric Newell purchased 3,050 shares of Eagle Bancorp stock in a transaction dated Friday, November 14th. The stock was bought at an average cost of $16.55 per share, with a total value of $50,477.50. Following the completion of the purchase, the chief financial officer owned 33,615 shares in the company, valued at approximately $556,328.25. This trade represents a 9.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Eagle Bancorp Stock Performance

Shares of NASDAQ EGBN opened at $17.04 on Thursday. Eagle Bancorp, Inc. has a 1 year low of $15.03 and a 1 year high of $30.94. The firm has a market cap of $517.52 million, a P/E ratio of -4.30 and a beta of 1.17. The stock has a fifty day moving average price of $18.99 and a two-hundred day moving average price of $18.72. 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 (NASDAQ:EGBN) last posted its quarterly earnings data on Monday, September 11th. The financial services provider reported $1.20 EPS for the quarter. Eagle Bancorp had a negative return on equity of 10.07% and a negative net margin of 18.65%.The company had revenue of $88.48 million for the quarter. Research analysts forecast that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were given a dividend of $0.01 per share. The ex-dividend date was Monday, November 3rd. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Eagle Bancorp’s dividend payout ratio (DPR) is -1.01%.

Hedge Funds Weigh In On Eagle Bancorp

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

Analysts Set New Price Targets

A number of analysts recently commented on EGBN shares. Piper Sandler dropped their target price on shares of Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Weiss Ratings restated a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, October 8th. Zacks Research downgraded Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen lowered Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Eagle Bancorp currently has an average rating of “Reduce” and an average price target of $21.25.

Eagle Bancorp Company Profile

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.