Hennessy Advisors Inc. Sells 15,000 Shares of Eagle Bancorp, Inc. (EGBN)
Hennessy Advisors Inc. reduced its holdings in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 11.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,000 shares of the financial services provider’s stock after selling 15,000 shares during the period. Hennessy Advisors Inc. owned 0.35% of Eagle Bancorp worth $8,046,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Eagle Bancorp by 158.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 1,162 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Eagle Bancorp during the 1st quarter worth about $124,000. Prudential Financial Inc. grew its holdings in Eagle Bancorp by 0.3% during the 1st quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 10 shares during the period. D.A. Davidson & CO. grew its holdings in Eagle Bancorp by 49.9% during the 2nd quarter. D.A. Davidson & CO. now owns 3,537 shares of the financial services provider’s stock worth $223,000 after acquiring an additional 1,177 shares during the period. Finally, Amalgamated Bank grew its holdings in Eagle Bancorp by 7.5% during the 2nd quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 283 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.
EGBN has been the subject of a number of recent analyst reports. BidaskClub downgraded Eagle Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reiterated a “neutral” rating on shares of Eagle Bancorp in a report on Friday, October 20th. Zacks Investment Research downgraded Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Eagle Bancorp in a report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $68.50.
In other news, CEO Ronald D. Paul sold 7,500 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $62.20, for a total value of $466,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ronald D. Paul sold 1,209 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $62.33, for a total value of $75,356.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,262 shares of company stock valued at $10,652,581. 8.39% of the stock is currently owned by company insiders.
Shares of Eagle Bancorp, Inc. (NASDAQ EGBN) traded down $0.50 on Friday, hitting $64.60. The stock had a trading volume of 228,865 shares, compared to its average volume of 180,134. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $2,224.99, a P/E ratio of 20.34 and a beta of 0.90. Eagle Bancorp, Inc. has a 12 month low of $52.45 and a 12 month high of $68.90.
Eagle Bancorp (NASDAQ:EGBN) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.05. The company had revenue of $71.94 million during the quarter, compared to the consensus estimate of $72.66 million. Eagle Bancorp had a return on equity of 12.59% and a net margin of 32.40%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. equities research analysts predict that Eagle Bancorp, Inc. will post 3.3 earnings per share for the current fiscal year.
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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