Wasatch Advisors Inc. raised its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,631,962 shares of the financial services provider’s stock after buying an additional 446,808 shares during the quarter. Eagle Bancorp makes up approximately 2.0% of Wasatch Advisors Inc.’s portfolio, making the stock its 9th biggest position. Wasatch Advisors Inc. owned approximately 7.70% of Eagle Bancorp worth $152,391,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zions Bancorporation purchased a new stake in Eagle Bancorp in the third quarter valued at approximately $231,000. Mutual of America Capital Management LLC lifted its stake in Eagle Bancorp by 2.8% in the third quarter. Mutual of America Capital Management LLC now owns 80,948 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 2,225 shares during the last quarter. Axiom International Investors LLC DE lifted its stake in Eagle Bancorp by 34.1% in the third quarter. Axiom International Investors LLC DE now owns 133,785 shares of the financial services provider’s stock valued at $8,970,000 after buying an additional 34,055 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Eagle Bancorp by 4.5% in the third quarter. Eagle Asset Management Inc. now owns 107,269 shares of the financial services provider’s stock valued at $7,262,000 after buying an additional 4,645 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Eagle Bancorp by 323.9% in the second quarter. Prudential Financial Inc. now owns 14,448 shares of the financial services provider’s stock valued at $915,000 after buying an additional 11,040 shares during the last quarter. Institutional investors own 68.23% of the company’s stock.
In other news, CEO Ronald D. Paul sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.47, for a total transaction of $332,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ronald D. Paul sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $67.46, for a total value of $1,011,900.00. The disclosure for this sale can be found here. Insiders have sold 39,959 shares of company stock valued at $2,682,251 in the last 90 days. Company insiders own 8.39% of the company’s stock.
Eagle Bancorp, Inc. (NASDAQ EGBN) traded down $0.65 during trading on Tuesday, hitting $60.80. The stock had a trading volume of 126,726 shares, compared to its average volume of 157,590. Eagle Bancorp, Inc. has a twelve month low of $46.20 and a twelve month high of $69.80. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $2,100.00, a PE ratio of 19.12 and a beta of 0.87.
Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Eagle Bancorp had a return on equity of 12.37% and a net margin of 32.40%. The business had revenue of $71.94 million during the quarter, compared to analysts’ expectations of $72.66 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. sell-side analysts expect that Eagle Bancorp, Inc. will post 3.34 EPS for the current fiscal year.
A number of brokerages have weighed in on EGBN. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research note on Friday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $66.00 price objective on shares of Eagle Bancorp in a research note on Friday, December 22nd. BidaskClub upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 15th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Eagle Bancorp in a research note on Thursday, October 19th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.75.
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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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