Eagle Bancorp (NASDAQ:EGBN) Stock Price Up 4.4% Following Insider Buying Activity

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s share price shot up 4.4% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $16.39 and last traded at $16.50. 111,842 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 429,157 shares. The stock had previously closed at $15.80.

Specifically, CFO Eric R. Newell acquired 3,050 shares of the business’s stock in a transaction on Friday, November 14th. The shares were acquired at an average price of $16.55 per share, for a total transaction of $50,477.50. Following the completion of the acquisition, the chief financial officer owned 33,615 shares in the company, valued at $556,328.25. This trade represents a 9.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

EGBN has been the subject of several analyst reports. Zacks Research downgraded Eagle Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Wall Street Zen downgraded shares of Eagle Bancorp from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 26th. Piper Sandler decreased their target price on shares of Eagle Bancorp from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Eagle Bancorp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Eagle Bancorp has a consensus rating of “Reduce” and a consensus target price of $21.25.

Eagle Bancorp Stock Up 4.4%

The company has a fifty day moving average of $19.09 and a 200 day moving average of $18.74. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.07. The company has a market cap of $501.12 million, a P/E ratio of -4.16 and a beta of 1.17.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Monday, September 11th. The financial services provider reported $1.20 EPS for the quarter. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.07%. The business had revenue of $88.48 million during the quarter. On average, research analysts anticipate that Eagle Bancorp, Inc. will post 2.31 earnings per share for the current fiscal year.

Eagle Bancorp Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were given a $0.01 dividend. The ex-dividend date was Monday, November 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Eagle Bancorp’s dividend payout ratio is presently -1.01%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EGBN. Versant Capital Management Inc lifted its position in shares of Eagle Bancorp by 102.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock valued at $30,000 after buying an additional 753 shares in the last quarter. Financial Consulate Inc. bought a new stake in Eagle Bancorp during the 3rd quarter worth approximately $34,000. Hantz Financial Services Inc. raised its stake in Eagle Bancorp by 298.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 2,378 shares during the period. MAI Capital Management lifted its holdings in Eagle Bancorp by 24.2% during the second quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 671 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Eagle Bancorp in the second quarter worth approximately $70,000. Institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

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.