M&T Bank Corp decreased its stake in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,980 shares of the financial services provider’s stock after selling 225 shares during the period. M&T Bank Corp’s holdings in Eagle Bancorp were worth $416,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of EGBN. Russell Investments Group Ltd. bought a new stake in shares of Eagle Bancorp during the fourth quarter worth about $1,358,000. State Street Corp raised its stake in shares of Eagle Bancorp by 8.6% in the fourth quarter. State Street Corp now owns 663,031 shares of the financial services provider’s stock worth $40,408,000 after buying an additional 52,664 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Eagle Bancorp by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 761,062 shares of the financial services provider’s stock worth $46,387,000 after buying an additional 18,260 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Eagle Bancorp by 55.4% in the fourth quarter. Baird Financial Group Inc. now owns 8,515 shares of the financial services provider’s stock worth $519,000 after buying an additional 3,036 shares in the last quarter. Finally, John W. Rosenthal Capital Management Inc. bought a new stake in shares of Eagle Bancorp during the fourth quarter worth about $6,519,000. 67.02% of the stock is owned by institutional investors.
Eagle Bancorp, Inc. (EGBN) traded down 0.39% during trading on Tuesday, hitting $63.70. 14,617 shares of the stock traded hands. Eagle Bancorp, Inc. has a 12 month low of $45.07 and a 12 month high of $64.94. The company’s 50 day moving average price is $59.75 and its 200 day moving average price is $60.34. The company has a market cap of $2.17 billion, a P/E ratio of 21.45 and a beta of 0.68.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $73 million for the quarter, compared to analysts’ expectations of $68.19 million. Eagle Bancorp had a return on equity of 12.15% and a net margin of 31.55%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities research analysts anticipate that Eagle Bancorp, Inc. will post $3.19 EPS for the current fiscal year.
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Several analysts recently weighed in on EGBN shares. BidaskClub upgraded Eagle Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $64.00 price objective on shares of Eagle Bancorp in a report on Wednesday, April 5th. FIG Partners upgraded Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 price objective for the company in a report on Monday, May 22nd. Finally, Zacks Investment Research downgraded shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.00.
In related news, Director Leland M. Weinstein sold 8,295 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $62.22, for a total value of $516,114.90. Following the sale, the director now directly owns 72,469 shares in the company, valued at approximately $4,509,021.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James H. Langmead sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $58.03, for a total value of $290,150.00. Following the completion of the sale, the chief financial officer now owns 4,935 shares in the company, valued at $286,378.05. The disclosure for this sale can be found here. Insiders have sold a total of 17,227 shares of company stock worth $1,053,863 over the last quarter. Insiders own 8.39% of the company’s stock.
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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