Eagle Bancorp, Inc. (EGBN) Shares Bought by Rhumbline Advisers
Rhumbline Advisers grew its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,428 shares of the financial services provider’s stock after purchasing an additional 376 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Eagle Bancorp worth $2,306,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in EGBN. Oppenheimer Asset Management Inc. acquired a new stake in shares of Eagle Bancorp in the first quarter valued at about $124,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Eagle Bancorp in the first quarter valued at about $158,000. Prudential Financial Inc. grew its position in shares of Eagle Bancorp by 0.3% in the first quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 10 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Eagle Bancorp in the first quarter valued at about $301,000. Finally, TFS Capital LLC acquired a new stake in shares of Eagle Bancorp in the first quarter valued at about $350,000. Institutional investors and hedge funds own 68.17% of the company’s stock.
Eagle Bancorp, Inc. (NASDAQ:EGBN) opened at 63.90 on Thursday. Eagle Bancorp, Inc. has a 52-week low of $47.20 and a 52-week high of $65.00. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 20.81 and a beta of 0.72. The company’s 50-day moving average is $62.12 and its 200-day moving average is $60.83.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly 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. The business had revenue of $76.72 million during the quarter, compared to the consensus estimate of $75.41 million. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.17%. During the same quarter last year, the firm posted $0.71 EPS. Equities analysts predict that Eagle Bancorp, Inc. will post $3.27 earnings per share for the current year.
In other news, CEO Ronald D. Paul sold 706 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $64.12, for a total value of $45,268.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ronald D. Paul sold 7,791 shares of the stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $63.50, for a total transaction of $494,728.50. The disclosure for this sale can be found here. Insiders sold a total of 51,071 shares of company stock valued at $3,220,920 in the last quarter. Insiders own 8.39% of the company’s stock.
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EGBN has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Tuesday, August 22nd. BidaskClub lowered shares of Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. 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 investment 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. The stock presently has an average rating of “Hold” and an average price target of $66.50.
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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