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 firm’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $33.63, for a total transaction of $493,318.47. Following the completion of the transaction, the director directly owned 40,359 shares in the company, valued at $1,357,273.17. This trade represents a 26.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $67,740.00.

Eagle Bancorp Price Performance

Shares of EGBN stock traded down $0.11 during trading hours on Tuesday, reaching $34.04. The company had a trading volume of 226,644 shares, compared to its average volume of 331,825. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a fifty day moving average of $29.48 and a 200-day moving average of $27.41. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 19.45 and a beta of 0.97. Eagle Bancorp, Inc. has a 12-month low of $15.58 and a 12-month high of $35.05.

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

Eagle Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 17th. Shareholders of record on Friday, November 6th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, November 6th. Eagle Bancorp’s dividend payout ratio is presently 2.29%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake 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. Public Employees Retirement System of Ohio purchased a new stake in Eagle Bancorp in the second quarter valued at $39,000. Cassaday & Co Wealth Management LLC purchased a new stake in Eagle Bancorp in the first quarter valued at $37,000. Fortitude Family Office LLC raised its position in Eagle Bancorp by 2,280.6% in the third quarter. Fortitude Family Office LLC now owns 1,714 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,642 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Eagle Bancorp in the 2nd quarter valued at $62,000. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EGBN has been the topic of several analyst reports. Hovde Group began 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a research report on Wednesday, September 2nd. Finally, Zacks Research raised shares of Eagle Bancorp from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.00.

Eagle Bancorp Company Profile

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.