Fmr LLC cut its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,474 shares of the financial services provider’s stock after selling 20 shares during the period. Fmr LLC’s holdings in Eagle Bancorp were worth $267,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new stake in shares of Eagle Bancorp during the first quarter valued at $158,000. Burt Wealth Advisors raised its stake in shares of Eagle Bancorp by 4.8% in the first quarter. Burt Wealth Advisors now owns 3,235 shares of the financial services provider’s stock valued at $193,000 after buying an additional 148 shares during the period. Prudential Financial Inc. raised its stake 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 buying an additional 10 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Eagle Bancorp during the first quarter valued at $301,000. Finally, TFS Capital LLC purchased a new stake in shares of Eagle Bancorp during the first quarter valued at $350,000. Institutional investors and hedge funds own 66.55% of the company’s stock.
Shares of Eagle Bancorp, Inc. (EGBN) opened at 62.85 on Thursday. The stock’s 50 day moving average price is $62.65 and its 200 day moving average price is $60.77. Eagle Bancorp, Inc. has a 1-year low of $47.20 and a 1-year high of $65.00. The company has a market cap of $2.15 billion, a P/E ratio of 20.47 and a beta of 0.70.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $76.72 million for the quarter, compared to the consensus estimate of $75.41 million. Eagle Bancorp had a return on equity of 12.39% and a net margin of 31.79%. During the same quarter in the previous year, the business earned $0.71 earnings per share. Equities research analysts forecast that Eagle Bancorp, Inc. will post $3.27 earnings per share for the current year.
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Several brokerages have recently weighed in on EGBN. Zacks Investment Research lowered Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $64.00 target price on shares of Eagle Bancorp in a research report on Friday, May 19th. BidaskClub raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Finally, FIG Partners raised Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 price target on the stock in a research report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $67.25.
In other news, EVP Janice L. Williams sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $63.17, for a total transaction of $631,700.00. Following the completion of the sale, the executive vice president now owns 73,490 shares in the company, valued at $4,642,363.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Leland M. Weinstein sold 8,295 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $62.22, for a total value of $516,114.90. Following the sale, the director now owns 72,469 shares of the company’s stock, valued at approximately $4,509,021.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,924 shares of company stock worth $2,074,098. Company insiders own 8.39% of the company’s stock.
Eagle Bancorp Company Profile
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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