Nationwide Fund Advisors grew its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 16.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,279 shares of the financial services provider’s stock after purchasing an additional 7,044 shares during the period. Nationwide Fund Advisors owned about 0.15% of Eagle Bancorp worth $3,183,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in EGBN. UBS Asset Management Americas Inc. boosted its position in Eagle Bancorp by 77.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 14,681 shares of the financial services provider’s stock worth $876,000 after purchasing an additional 6,385 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Eagle Bancorp during the 1st quarter valued at approximately $301,000. Sei Investments Co. lifted its position in shares of Eagle Bancorp by 1.7% during the 1st quarter. Sei Investments Co. now owns 6,892 shares of the financial services provider’s stock valued at $412,000 after buying an additional 112 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Eagle Bancorp during the 1st quarter valued at approximately $158,000. Finally, Prudential Financial Inc. lifted its position in shares of Eagle Bancorp by 0.3% during the 1st quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock valued at $203,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 68.07% of the company’s stock.
Eagle Bancorp, Inc. (NASDAQ EGBN) opened at 68.85 on Wednesday. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 22.43 and a beta of 0.74. Eagle Bancorp, Inc. has a 12 month low of $47.20 and a 12 month high of $68.85. The stock’s 50 day moving average price is $63.97 and its 200-day moving average price is $61.51.
Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04. Eagle Bancorp had a return on equity of 12.17% and a net margin of 31.79%. The firm had revenue of $76.72 million for the quarter, compared to the consensus estimate of $75.41 million. During the same period in the previous year, the business earned $0.71 earnings per share. Equities research analysts predict that Eagle Bancorp, Inc. will post $3.27 EPS for the current year.
In other Eagle Bancorp news, CEO Ronald D. Paul sold 3,140 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $62.19, for a total transaction of $195,276.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Leslie M. Alperstein sold 4,212 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $67.38, for a total value of $283,804.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,209 shares of company stock worth $8,919,987. 8.39% of the stock is owned by company insiders.
A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $64.00 target price on shares of Eagle Bancorp in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, September 19th. Finally, BidaskClub lowered Eagle Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $67.50.
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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