Amalgamated Bank Has $256,000 Position in Eagle Bancorp, Inc. (EGBN)
Amalgamated Bank lifted its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,052 shares of the financial services provider’s stock after purchasing an additional 283 shares during the quarter. Amalgamated Bank’s holdings in Eagle Bancorp were worth $256,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Eagle Bancorp by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 2,394,795 shares of the financial services provider’s stock valued at $142,970,000 after purchasing an additional 95,371 shares during the period. BlackRock Inc. raised its stake in shares of Eagle Bancorp by 5.3% during the 2nd quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock valued at $130,506,000 after purchasing an additional 103,343 shares during the period. Victory Capital Management Inc. raised its stake in shares of Eagle Bancorp by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,320,262 shares of the financial services provider’s stock valued at $83,573,000 after purchasing an additional 25,022 shares during the period. Jennison Associates LLC raised its stake in shares of Eagle Bancorp by 23.5% during the 2nd quarter. Jennison Associates LLC now owns 1,044,733 shares of the financial services provider’s stock valued at $66,132,000 after purchasing an additional 198,608 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Eagle Bancorp by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 794,108 shares of the financial services provider’s stock valued at $47,409,000 after purchasing an additional 33,046 shares during the period. Institutional investors own 68.07% of the company’s stock.
In other Eagle Bancorp news, Director Leslie M. Alperstein sold 4,212 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $67.38, for a total transaction of $283,804.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ronald D. Paul sold 706 shares of the firm’s 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 139,209 shares of company stock worth $8,919,987. Insiders own 8.39% of the company’s stock.
Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04. The business had revenue of $76.72 million for the quarter, compared to analysts’ expectations of $75.41 million. Eagle Bancorp had a return on equity of 12.17% and a net margin of 31.79%. During the same period last year, the firm earned $0.71 earnings per share.
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A number of research firms recently issued reports on EGBN. BidaskClub upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Tuesday, September 19th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $64.00 target price on shares of Eagle Bancorp in a research note on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $67.50.
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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