Eagle Bancorp (NASDAQ:EGBN) Shares Up 4.4% After Insider Buying Activity

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s share price rose 4.4% during trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $16.39 and last traded at $16.50. Approximately 111,842 shares changed hands during trading, a decline of 74% from the average daily volume of 429,157 shares. The stock had previously closed at $15.80.

Specifically, CFO Eric R. Newell acquired 3,050 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were 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 directly 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 purchase was disclosed in a document filed with the SEC, which is available at this link.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EGBN shares. Zacks Research lowered Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. 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 research report on Wednesday, October 8th. Finally, Piper Sandler lowered their price target 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. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $21.25.

Eagle Bancorp Price Performance

The firm’s fifty day moving average price is $19.04 and its two-hundred day moving average price is $18.73. 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 quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.07.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Monday, September 11th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter. The company had revenue of $88.48 million for the quarter. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.07%. On average, equities analysts predict that Eagle Bancorp, Inc. will post 2.31 earnings per share 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 given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, November 3rd. Eagle Bancorp’s payout ratio is currently -1.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EGBN. Vanguard Group Inc. grew its holdings in Eagle Bancorp by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 2,748,105 shares of the financial services provider’s stock valued at $57,710,000 after purchasing an additional 58,682 shares during the last quarter. North Reef Capital Management LP boosted its position in Eagle Bancorp by 558.2% during the third quarter. North Reef Capital Management LP now owns 2,632,918 shares of the financial services provider’s stock valued at $53,238,000 after purchasing an additional 2,232,918 shares in the last quarter. Geode Capital Management LLC grew its holdings in Eagle Bancorp by 0.6% in the second quarter. Geode Capital Management LLC now owns 733,007 shares of the financial services provider’s stock worth $14,281,000 after purchasing an additional 4,392 shares during the last quarter. American Century Companies Inc. raised its position in shares of Eagle Bancorp by 6.7% in the 1st quarter. American Century Companies Inc. now owns 691,789 shares of the financial services provider’s stock valued at $14,528,000 after purchasing an additional 43,597 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in Eagle Bancorp by 5.4% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 644,957 shares of the financial services provider’s stock valued at $13,041,000 after purchasing an additional 32,787 shares during the last quarter. Institutional investors own 78.03% of the company’s stock.

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.