Bbva Compass Bancshares Inc. Lowers Stake in Eagle Bancorp, Inc. (EGBN)
Bbva Compass Bancshares Inc. lowered its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,745 shares of the financial services provider’s stock after selling 193 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Eagle Bancorp were worth $300,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Eagle Bancorp by 4.1% in the first quarter. Vanguard Group Inc. now owns 2,394,795 shares of the financial services provider’s stock valued at $142,970,000 after buying an additional 95,371 shares in the last quarter. BlackRock Inc. raised its stake in Eagle Bancorp by 54,771.8% in the first quarter. BlackRock Inc. now owns 1,958,376 shares of the financial services provider’s stock valued at $116,916,000 after buying an additional 1,954,807 shares in the last quarter. Victory Capital Management Inc. raised its stake in Eagle Bancorp by 1.0% in the first quarter. Victory Capital Management Inc. now owns 1,295,240 shares of the financial services provider’s stock valued at $77,326,000 after buying an additional 12,303 shares in the last quarter. Jennison Associates LLC raised its stake in Eagle Bancorp by 58.5% in the first quarter. Jennison Associates LLC now owns 846,125 shares of the financial services provider’s stock valued at $50,514,000 after buying an additional 312,235 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Eagle Bancorp by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 794,108 shares of the financial services provider’s stock valued at $47,409,000 after buying an additional 33,046 shares in the last quarter. Institutional investors and hedge funds own 67.47% of the company’s stock.
Eagle Bancorp, Inc. (NASDAQ:EGBN) traded down 0.49% during trading on Friday, hitting $60.75. 95,231 shares of the stock traded hands. Eagle Bancorp, Inc. has a 12 month low of $47.20 and a 12 month high of $65.00. The stock has a market cap of $2.08 billion, a PE ratio of 19.79 and a beta of 0.70. The company has a 50-day moving average price of $62.61 and a 200-day moving average price of $60.81.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.17%. The company had revenue of $76.72 million during the quarter, compared to analysts’ expectations of $75.41 million. During the same quarter in the prior year, the company earned $0.71 EPS. Equities research analysts expect that Eagle Bancorp, Inc. will post $3.27 EPS for the current year.
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A number of analysts have weighed in on EGBN shares. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Thursday, June 8th. BidaskClub upgraded shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $64.00 target price on shares of Eagle Bancorp in a research report on Friday, May 19th. Finally, FIG Partners upgraded shares of Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 target price on the stock in a research report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $67.25.
In other Eagle Bancorp news, CEO Ronald D. Paul sold 7,791 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $63.50, for a total value of $494,728.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Antonio F. Marquez sold 2,200 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $63.04, for a total transaction of $138,688.00. Following the completion of the transaction, the executive vice president now owns 20,273 shares of the company’s stock, valued at $1,278,009.92. The disclosure for this sale can be found here. Insiders have sold a total of 32,924 shares of company stock valued at $2,074,098 in the last three months. 8.39% of the stock is currently owned by corporate insiders.
Eagle Bancorp Company Profile
Eagle Bancorp, Inc is a bank holding company for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank. As of December 31, 2016, the Bank operated 21 banking offices: seven in Montgomery County, Maryland; five located in the District of Columbia, and nine in Northern Virginia.
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