Insider Selling: Eagle Bancorp, Inc. (EGBN) CEO Sells $195,276.60 in Stock
Eagle Bancorp, Inc. (NASDAQ:EGBN) CEO Ronald D. Paul sold 3,140 shares of Eagle Bancorp stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $62.19, for a total transaction of $195,276.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) opened at 67.05 on Monday. The company’s 50 day moving average price is $62.30 and its 200 day moving average price is $60.85. Eagle Bancorp, Inc. has a 12 month low of $47.20 and a 12 month high of $68.10. The stock has a market capitalization of $2.29 billion, a PE ratio of 21.84 and a beta of 0.74.
Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results 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 period last year, the company posted $0.71 earnings per share. Equities analysts anticipate that Eagle Bancorp, Inc. will post $3.27 earnings per share for the current fiscal year.
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Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Tuesday, August 22nd. BidaskClub cut Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.50.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in Eagle Bancorp by 13.1% in the 1st quarter. Wells Fargo & Company MN now owns 105,023 shares of the financial services provider’s stock valued at $6,270,000 after purchasing an additional 12,196 shares in the last quarter. First Trust Advisors LP raised its holdings in Eagle Bancorp by 31.0% during the first quarter. First Trust Advisors LP now owns 86,718 shares of the financial services provider’s stock worth $5,177,000 after purchasing an additional 20,501 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Eagle Bancorp by 77.0% during the first quarter. UBS Asset Management Americas Inc. now owns 14,681 shares of the financial services provider’s stock worth $876,000 after purchasing an additional 6,385 shares during the last quarter. Karp Capital Management Corp acquired a new position in Eagle Bancorp during the first quarter worth $301,000. Finally, Sei Investments Co. raised its holdings in Eagle Bancorp by 1.7% during the first quarter. Sei Investments Co. now owns 6,892 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 68.07% of the company’s stock.
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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