Wasatch Advisors Inc. Raises Stake in Eagle Bancorp, Inc. (EGBN)
Wasatch Advisors Inc. lifted its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,185,154 shares of the financial services provider’s stock after purchasing an additional 31,414 shares during the period. Eagle Bancorp accounts for 2.0% of Wasatch Advisors Inc.’s investment portfolio, making the stock its 8th biggest holding. Wasatch Advisors Inc. owned approximately 6.39% of Eagle Bancorp worth $146,515,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of EGBN. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of 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 purchasing an additional 1,162 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Eagle Bancorp by 38.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,874 shares of the financial services provider’s stock valued at $182,000 after buying an additional 800 shares in the last quarter. D.A. Davidson & CO. grew its stake in Eagle Bancorp by 49.9% in the 2nd quarter. D.A. Davidson & CO. now owns 3,537 shares of the financial services provider’s stock valued at $223,000 after buying an additional 1,177 shares in the last quarter. Amalgamated Bank grew its stake in Eagle Bancorp by 7.5% in the 2nd quarter. Amalgamated Bank now owns 4,052 shares of the financial services provider’s stock valued at $256,000 after buying an additional 283 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Eagle Bancorp by 376.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,144 shares of the financial services provider’s stock valued at $262,000 after buying an additional 3,275 shares in the last quarter. Institutional investors own 67.34% of the company’s stock.
Eagle Bancorp, Inc. (EGBN) traded up $0.45 during trading on Tuesday, reaching $67.55. 62,600 shares of the company were exchanged, compared to its average volume of 111,718. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05. Eagle Bancorp, Inc. has a fifty-two week low of $54.60 and a fifty-two week high of $68.90. The stock has a market cap of $2,300.00, a price-to-earnings ratio of 20.97 and a beta of 0.90.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly 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. 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 during the quarter, compared to the consensus estimate of $72.66 million. During the same period last year, the firm earned $0.72 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. equities research analysts anticipate that Eagle Bancorp, Inc. will post 3.33 earnings per share for the current fiscal year.
In other Eagle Bancorp news, CEO Ronald D. Paul sold 3,140 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ronald D. Paul sold 1,209 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $62.33, for a total transaction of $75,356.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 166,262 shares of company stock valued at $10,786,581. Insiders own 8.39% of the company’s stock.
A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “neutral” rating on shares of Eagle Bancorp in a research note on Friday, October 20th. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Friday, October 20th. Boenning Scattergood reiterated a “buy” rating on shares of Eagle Bancorp in a research note on Thursday, October 19th. Finally, BidaskClub lowered shares of Eagle Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $68.50.
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Eagle Bancorp 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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