Eagle Bancorp, Inc. (EGBN) Shares Sold by Foundry Partners LLC
Foundry Partners LLC reduced its position in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 50,034 shares of the financial services provider’s stock after selling 1,149 shares during the period. Foundry Partners LLC’s holdings in Eagle Bancorp were worth $3,167,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Eagle Bancorp during the fourth quarter worth $14,529,000. Chevy Chase Trust Holdings Inc. increased its stake in shares of Eagle Bancorp by 26.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 119,802 shares of the financial services provider’s stock worth $7,152,000 after buying an additional 25,267 shares during the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Eagle Bancorp during the first quarter worth $531,000. Dimensional Fund Advisors LP increased its stake in shares of 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 worth $47,409,000 after buying an additional 33,046 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Eagle Bancorp by 11.2% in the fourth quarter. Teachers Advisors LLC now owns 57,057 shares of the financial services provider’s stock worth $3,478,000 after buying an additional 5,737 shares during the last quarter. 67.47% of the stock is owned by institutional investors.
Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) opened at 62.00 on Wednesday. The firm’s 50-day moving average is $62.73 and its 200-day moving average is $60.80. Eagle Bancorp, Inc. has a 1-year low of $47.20 and a 1-year high of $65.00. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 20.20 and a beta of 0.70.
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, topping the Zacks’ consensus estimate of $0.77 by $0.04. Eagle Bancorp had a return on equity of 12.55% and a net margin of 36.20%. The firm had revenue of $76.72 million for the quarter, compared to analysts’ expectations of $75.41 million. During the same quarter last year, the business earned $0.71 earnings per share. On average, analysts predict that Eagle Bancorp, Inc. will post $3.27 earnings per share for the current fiscal year.
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A number of equities research analysts have weighed in on EGBN shares. Zacks Investment Research downgraded shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. BidaskClub lowered shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, FIG Partners raised shares of Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 price objective for the company in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Eagle Bancorp currently has a consensus rating of “Hold” and an average target price of $67.25.
In other Eagle Bancorp news, Director Leland M. Weinstein sold 8,295 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $62.22, for a total transaction of $516,114.90. Following the transaction, the director now owns 72,469 shares in the company, valued at $4,509,021.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ronald D. Paul sold 706 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $64.12, for a total value of $45,268.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,924 shares of company stock worth $2,074,098. Company insiders own 8.39% of the company’s stock.
About Eagle Bancorp
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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