Eagle Bancorp (NASDAQ:EGBN) Stock Price Up 4.4% Following Insider Buying Activity

Eagle Bancorp's stock price rose by 4.4% after CFO Eric R. Newell purchased 3,050 shares. Despite the rise, analysts have mixed ratings, with some downgrading the stock to 'strong sell.' The company recently reported negative financial metrics and cut its dividend. Institutional investors have adjusted their stakes, with 78.03% ownership. The stock's recent performance and insider activity have influenced its market perception.

Eagle Bancorp, Inc. (NASDAQ:EGBN - Get Free Report) shares shot up 4.4% during trading on Tuesday following insider buying activity. The stock traded as high as $16.39 and last traded at $16.50. 111,842 shares were traded during mid-day trading, a decline of 74% from the average session volume of 429,157 shares. The stock had previously closed at $15.80.

Specifically, CFO Eric R. Newell bought 3,050 shares of Eagle Bancorp stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of $16.55 per share, for a total transaction of $50,477.50. Following the completion of the acquisition, the chief financial officer directly owned 33,615 shares of the company's stock, valued at approximately $556,328.25. The trade was a 9.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

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Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Eagle Bancorp from a "hold" rating to a "strong sell" rating in a report on Saturday, July 26th. Weiss Ratings restated a "sell (d)" rating on shares of Eagle Bancorp in a report on Wednesday, October 8th. Zacks Research downgraded shares of Eagle Bancorp from a "hold" rating to a "strong sell" rating in a report on Tuesday, November 4th. Finally, Piper Sandler reduced their price objective on shares of Eagle Bancorp from $22.00 to $19.00 and set a "neutral" rating for the company in a research report on Monday, October 27th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Eagle Bancorp currently has an average rating of "Reduce" and an average target price of $21.25.

Get Our Latest Stock Analysis on Eagle Bancorp

Eagle Bancorp Stock Up 4.4%

The stock has a fifty day simple moving average of $19.09 and a two-hundred day simple moving average of $18.74. The company has a current ratio of 0.86, a quick ratio of 0.84 and a debt-to-equity ratio of 0.07. The firm has a market cap of $501.12 million, a PE ratio of -4.16 and a beta of 1.17.

Eagle Bancorp (NASDAQ:EGBN - Get Free Report) last posted its quarterly earnings data on Monday, September 11th. The financial services provider reported $1.20 earnings per share for the quarter. The company had revenue of $88.48 million for the quarter. Eagle Bancorp had a negative net margin of 18.65% and a negative return on equity of 10.07%. As a group, sell-side analysts expect that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, November 3rd. Eagle Bancorp's dividend payout ratio is -1.01%.

Institutional Investors Weigh In On Eagle Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in Eagle Bancorp by 102.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 753 shares during the period. Financial Consulate Inc. purchased a new stake in shares of Eagle Bancorp in the 3rd quarter worth about $34,000. Hantz Financial Services Inc. boosted its stake in shares of Eagle Bancorp by 298.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 2,378 shares in the last quarter. MAI Capital Management boosted its stake in shares of Eagle Bancorp by 24.2% during the 2nd quarter. MAI Capital Management now owns 3,448 shares of the financial services provider's stock valued at $67,000 after purchasing an additional 671 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Eagle Bancorp during the second quarter valued at about $70,000. Institutional investors own 78.03% of the company's stock.

About Eagle Bancorp

(Get Free Report)

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.

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