Eagle Bancorp (NASDAQ:EGBN) Director Sells 14,669 Shares of Stock

Eagle Bancorp, Inc. (NASDAQ:EGBN) Director A. Ludwig sold 14,669 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $33.63, for a total value of $493,318.47. Following the transaction, the director owned 40,359 shares of the company’s stock, valued at approximately $1,357,273.17. This trade represents a 26.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

A. Leslie Ludwig also recently made the following trade(s):

• On Friday, November 6th, A. Ludwig sold 2,000 shares of Eagle Bancorp stock. The stock was sold at an average price of $33.87, for a total transaction of $67,740.00.

Eagle Bancorp Stock Performance

Eagle Bancorp stock traded down $0.11 during midday trading on Tuesday, hitting $34.04. The stock had a trading volume of 226,644 shares, compared to its average volume of 331,825. Eagle Bancorp, Inc. has a 52-week low of $15.58 and a 52-week high of $35.05. The company has a market capitalization of $1.04 billion, a PE ratio of 19.45 and a beta of 0.97. The firm’s fifty day moving average is $29.48 and its two-hundred day moving average is $27.41. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.07.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.45. The business had revenue of $70.87 million for the quarter, compared to the consensus estimate of $71.78 million. Eagle Bancorp had a net margin of 9.30% and a return on equity of 4.66%. On average, research analysts forecast that Eagle Bancorp, Inc. will post 1.84 EPS for the current year.

Eagle Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Friday, November 6th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, November 6th. Eagle Bancorp’s dividend payout ratio (DPR) is presently 2.29%.

Institutional Investors Weigh In On Eagle Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in shares of Eagle Bancorp by 16.2% in the second quarter. Versant Capital Management Inc now owns 3,545 shares of the financial services provider’s stock valued at $101,000 after buying an additional 493 shares during the last quarter. Hilton Head Capital Partners LLC lifted its stake in shares of Eagle Bancorp by 3.3% in the third quarter. Hilton Head Capital Partners LLC now owns 19,011 shares of the financial services provider’s stock worth $528,000 after buying an additional 599 shares in the last quarter. Swiss National Bank boosted its position in Eagle Bancorp by 1.9% during the first quarter. Swiss National Bank now owns 60,032 shares of the financial services provider’s stock worth $1,493,000 after acquiring an additional 1,100 shares during the last quarter. Parallel Advisors LLC boosted its position in Eagle Bancorp by 502.7% during the third quarter. Parallel Advisors LLC now owns 1,326 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,106 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Eagle Bancorp during the second quarter worth about $39,000. 78.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EGBN has been the subject of several recent analyst reports. Zacks Research raised shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. Hovde Group initiated coverage on Eagle Bancorp in a report on Wednesday, October 7th. They set an “outperform” rating and a $37.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.00.

About Eagle Bancorp

Eagle Bancorp, Inc. is the bank holding company for EagleBank, a community bank headquartered in Bethesda, Maryland. Founded in 1998, EagleBank serves businesses, organizations and individuals in the Washington, D.C., metropolitan area, including parts of Maryland and Northern Virginia. The company provides commercial and consumer banking services, including business and commercial real estate lending, deposit accounts, cash management and other treasury services. EagleBank also offers banking and lending products to individuals and nonprofit organizations.