Eagle Bancorp Sees Unusually High Options Volume (EGBN)
Eagle Bancorp, Inc. (NASDAQ:EGBN) saw some unusual options trading activity on Friday. Investors acquired 1,537 put options on the company. This represents an increase of approximately 2,800% compared to the average volume of 53 put options.
In other Eagle Bancorp news, CEO Ronald D. Paul sold 3,140 shares of Eagle Bancorp stock in a transaction on Monday, September 11th. The shares were sold at an average price of $62.19, for a total value of $195,276.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ronald D. Paul sold 28,140 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $65.62, for a total transaction of $1,846,546.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,553 shares of company stock worth $9,932,774. 8.39% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Eagle Bancorp by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,523,941 shares of the financial services provider’s stock worth $159,766,000 after acquiring an additional 129,146 shares in the last quarter. Wasatch Advisors Inc. grew its holdings in Eagle Bancorp by 1.5% during the 3rd quarter. Wasatch Advisors Inc. now owns 2,185,154 shares of the financial services provider’s stock worth $146,515,000 after acquiring an additional 31,414 shares in the last quarter. BlackRock Inc. grew its holdings in Eagle Bancorp by 5.3% during the 2nd quarter. BlackRock Inc. now owns 2,061,719 shares of the financial services provider’s stock worth $130,506,000 after acquiring an additional 103,343 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Eagle Bancorp by 5.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,386,541 shares of the financial services provider’s stock worth $92,968,000 after acquiring an additional 66,279 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in Eagle Bancorp by 23.7% during the 3rd quarter. Jennison Associates LLC now owns 1,291,987 shares of the financial services provider’s stock worth $86,628,000 after acquiring an additional 247,254 shares in the last quarter. 68.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eagle Bancorp (NASDAQ EGBN) opened at $49.95 on Monday. Eagle Bancorp has a one year low of $46.20 and a one year high of $69.80. The stock has a market cap of $1,707.19, a price-to-earnings ratio of 15.61 and a beta of 0.87. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23.
Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Eagle Bancorp had a net margin of 32.40% and a return on equity of 12.37%. The firm had revenue of $71.94 million for the quarter, compared to the consensus estimate of $72.66 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. analysts expect that Eagle Bancorp will post 3.33 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on EGBN shares. Zacks Investment Research downgraded shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of Eagle Bancorp in a research note on Friday, October 20th. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Eagle Bancorp in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Eagle Bancorp currently has a consensus rating of “Hold” and a consensus target price of $68.50.
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About Eagle Bancorp
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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