Insider Buying: Eagle Bancorp, Inc. (NASDAQ:EGBN) Director Buys 1,500 Shares of Stock

Eagle Bancorp, Inc. (NASDAQ:EGBN) Director A. Leslie Ludwig acquired 1,500 shares of the stock in a transaction on Thursday, June 13th. The stock was bought at an average price of $16.89 per share, with a total value of $25,335.00. Following the transaction, the director now directly owns 41,413 shares of the company’s stock, valued at approximately $699,465.57. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Eagle Bancorp Stock Performance

EGBN opened at $16.82 on Tuesday. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $31.97. The stock has a market capitalization of $507.80 million, a PE ratio of 6.70 and a beta of 1.07. The stock’s 50 day moving average price is $19.40 and its 200-day moving average price is $23.42.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results on Wednesday, April 24th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.60). Eagle Bancorp had a net margin of 11.14% and a return on equity of 6.11%. The business had revenue of $78.29 million for the quarter, compared to analysts’ expectations of $75.51 million. Research analysts forecast that Eagle Bancorp, Inc. will post 1.36 EPS for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, April 18th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, April 17th. This represents a $1.80 annualized dividend and a dividend yield of 10.70%. Eagle Bancorp’s dividend payout ratio (DPR) is presently 71.71%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, June 9th.

Institutional Investors Weigh In On Eagle Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. purchased a new stake in Eagle Bancorp in the fourth quarter worth $7,801,000. Charles Schwab Investment Management Inc. grew its stake in Eagle Bancorp by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 458,387 shares of the financial services provider’s stock worth $9,832,000 after purchasing an additional 38,678 shares during the period. New York State Common Retirement Fund grew its stake in Eagle Bancorp by 138.5% in the third quarter. New York State Common Retirement Fund now owns 30,637 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 17,793 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Eagle Bancorp in the third quarter worth $692,000. Finally, Versor Investments LP purchased a new stake in Eagle Bancorp in the fourth quarter worth $458,000. 78.03% of the stock is owned by hedge funds and other institutional investors.

About Eagle Bancorp

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.