Eagle Bancorp (NASDAQ:EGBN) Director Trevor Montano Sells 3,000 Shares of Company Stock

Eagle Bancorp, Inc. (NASDAQ:EGBN) Director Trevor Montano sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $33.98, for a total transaction of $101,940.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Eagle Bancorp Trading Up 0.2%

NASDAQ:EGBN traded up $0.06 on Friday, reaching $34.44. The stock had a trading volume of 464,170 shares, compared to its average volume of 511,598. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 19.68 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s fifty day moving average is $30.03 and its two-hundred day moving average is $27.56. Eagle Bancorp, Inc. has a 12-month low of $15.58 and a 12-month high of $35.05.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.45. The company had revenue of $70.87 million for the quarter, compared to analysts’ expectations of $71.78 million. Eagle Bancorp had a net margin of 9.30% and a return on equity of 4.66%. Equities analysts expect that Eagle Bancorp, Inc. will post 1.99 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Hovde Group began coverage on shares of Eagle Bancorp in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $37.00 target price for the company. Zacks Research raised Eagle Bancorp from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eagle Bancorp in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $31.00.

Key Stories Impacting Eagle Bancorp

These are some of the EGBN stories that stood out recently:

• Positive Sentiment: Zacks upgraded Eagle Bancorp to Rank #2 (Buy), citing improved earnings prospects; a separate Zacks piece highlighted the stock’s momentum appeal. Zacks rating upgrade Zacks momentum article
• Positive Sentiment: CEO Stephen Russell Curley bought 4,393 shares for about $150,000, increasing his stake by 8.74%. Insider purchases can signal management confidence. CEO purchase report
• Positive Sentiment: A recent report said credit costs eased in the third quarter, a potentially favorable development for the bank’s profitability and credit outlook. Report on easing credit costs

Institutional Trading of Eagle Bancorp

Several institutional investors have recently made changes to their positions in the stock. Stone Point Capital LLC acquired a new position in Eagle Bancorp in the second quarter valued at $21,660,548,000. Wellington Management Group LLP grew its position in Eagle Bancorp by 5.9% during the second quarter. Wellington Management Group LLP now owns 1,233,336 shares of the financial services provider’s stock valued at $35,014,000 after acquiring an additional 68,314 shares during the period. Bank of New York Mellon Corp purchased a new stake in Eagle Bancorp during the second quarter valued at about $4,678,000. Quantinno Capital Management LP increased its stake in Eagle Bancorp by 15.2% during the first quarter. Quantinno Capital Management LP now owns 187,900 shares of the financial services provider’s stock worth $4,673,000 after acquiring an additional 24,842 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in Eagle Bancorp by 10.1% during the third quarter. Empowered Funds LLC now owns 124,345 shares of the financial services provider’s stock worth $3,456,000 after acquiring an additional 11,384 shares during the last quarter. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.