Eric R. Newell Acquires 1,170 Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) Stock

Eagle Bancorp, Inc. (NASDAQ:EGBN) CFO Eric R. Newell purchased 1,170 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $21.37 per share, for a total transaction of $25,002.90. Following the transaction, the chief financial officer now owns 28,733 shares of the company’s stock, valued at $614,024.21. This trade represents a 4.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Eagle Bancorp Stock Down 0.4 %

NASDAQ:EGBN opened at $21.61 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.88. The company has a market cap of $652.71 million, a PE ratio of -13.76 and a beta of 1.08. Eagle Bancorp, Inc. has a 52-week low of $15.99 and a 52-week high of $30.94. The stock has a 50-day simple moving average of $24.73 and a 200 day simple moving average of $25.09.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Eagle Bancorp had a positive return on equity of 4.68% and a negative net margin of 6.65%. On average, sell-side analysts expect that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $0.165 per share. The ex-dividend date was Friday, February 7th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.05%. Eagle Bancorp’s payout ratio is presently -42.04%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EGBN shares. Keefe, Bruyette & Woods dropped their price target on Eagle Bancorp from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. Piper Sandler dropped their price target on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating on the stock in a research report on Friday, January 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EGBN. Smartleaf Asset Management LLC grew its holdings in shares of Eagle Bancorp by 353.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 994 shares of the financial services provider’s stock worth $26,000 after buying an additional 775 shares in the last quarter. Point72 DIFC Ltd bought a new position in Eagle Bancorp in the third quarter valued at approximately $48,000. R Squared Ltd bought a new position in Eagle Bancorp in the fourth quarter valued at approximately $51,000. Nisa Investment Advisors LLC grew its stake in Eagle Bancorp by 49.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 846 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new position in Eagle Bancorp in the fourth quarter valued at approximately $59,000. 78.03% of the stock is currently owned by institutional investors.

About Eagle Bancorp

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.