Teachers Advisors LLC raised its position in Eagle Bancorp, Inc. (NASDAQ:EGBN) by 374.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,797 shares of the financial services provider’s stock after buying an additional 213,740 shares during the period. Teachers Advisors LLC owned about 0.79% of Eagle Bancorp worth $16,167,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in Eagle Bancorp by 57.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,485 shares of the financial services provider’s stock worth $151,000 after buying an additional 910 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Eagle Bancorp during the first quarter worth approximately $158,000. Burt Wealth Advisors raised its stake in Eagle Bancorp by 4.8% in the first quarter. Burt Wealth Advisors now owns 3,235 shares of the financial services provider’s stock worth $193,000 after buying an additional 148 shares in the last quarter. Prudential Financial Inc. raised its stake in Eagle Bancorp by 0.3% in the first quarter. Prudential Financial Inc. now owns 3,408 shares of the financial services provider’s stock worth $203,000 after buying an additional 10 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Eagle Bancorp during the first quarter worth approximately $301,000. 66.87% of the stock is owned by hedge funds and other institutional investors.
Eagle Bancorp, Inc. (NASDAQ:EGBN) opened at 62.00 on Tuesday. The stock’s 50 day moving average is $60.13 and its 200-day moving average is $60.38. The company has a market capitalization of $2.11 billion, a PE ratio of 20.88 and a beta of 0.71. Eagle Bancorp, Inc. has a 12 month low of $47.20 and a 12 month high of $65.00.
Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.03. Eagle Bancorp had a net margin of 31.55% and a return on equity of 12.15%. The company had revenue of $73 million during the quarter, compared to analysts’ expectations of $68.19 million. During the same period in the prior year, the company posted $0.68 earnings per share. Eagle Bancorp’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts expect that Eagle Bancorp, Inc. will post $3.19 EPS for the current year.
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A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $64.00 target price on shares of Eagle Bancorp in a report on Friday, May 19th. BidaskClub raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, FIG Partners raised shares of Eagle Bancorp from a “market perform” rating to an “outperform” rating and set a $66.00 target price for the company in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Eagle Bancorp presently has a consensus rating of “Hold” and an average target price of $66.75.
In other news, Director Leland M. Weinstein sold 3,932 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $62.97, for a total transaction of $247,598.04. Following the completion of the sale, the director now directly owns 64,274 shares in the company, valued at $4,047,333.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Leland M. Weinstein sold 8,295 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $62.22, for a total transaction of $516,114.90. Following the sale, the director now owns 72,469 shares of the company’s stock, valued at $4,509,021.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,018 shares of company stock valued at $1,258,441. 8.39% of the stock is currently owned by corporate insiders.
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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