Eagle Bancorp CFO Eric R. Newell Increases Shareholding by Purchasing 1,170 Shares

Eagle Bancorp, Inc. (NASDAQ:EGBN) Chief Financial Officer Eric R. Newell recently made a significant purchase of 1,170 shares of the company’s stock on March 7th. This acquisition was completed at an average price of $21.37 per share, resulting in a total investment of $25,002.90. Following this transaction, Newell now holds a total of 28,733 shares in Eagle Bancorp, which are currently valued at approximately $614,024.21. This purchase reflects a 4.24% increase in his ownership position. The details of the acquisition were reported to the Securities and Exchange Commission and can be accessed through their website.

Eagle Bancorp Stock Performance

On the same day, Eagle Bancorp’s stock experienced a slight decrease, dropping by $0.09 to reach $21.61 during mid-day trading. The trading volume reached 227,814 shares, which is lower than the average of 310,626 shares. The company holds a market capitalization of $652.67 million and has a price-to-earnings ratio of -13.76, with a beta value of 1.09. The stock's 50-day and 200-day moving averages stand at $24.82 and $25.05, respectively. Over the past year, Eagle Bancorp's shares hit a low of $15.99 and a high of $30.94. Additionally, the company reports a debt-to-equity ratio of 0.06, a current ratio of 0.88, and a quick ratio of 0.86.

Recent Earnings Report

Eagle Bancorp released its latest earnings report on January 22nd, where it reported earnings of $0.50 per share for the previous quarter. This figure fell short of analysts’ expectations, which predicted earnings of $0.51 per share. The firm has shown a positive return on equity of 4.68%, although it reported a negative net margin of 6.65%. Analysts forecast an average of 2.31 earnings per share for the current fiscal year.

Dividend Announcement

In addition to its stock performance, Eagle Bancorp has declared a quarterly dividend recently. The dividend, amounting to $0.165 per share, was paid on February 21st to stockholders recorded as of February 7th. This translates to an annual dividend of $0.66, yielding 3.05%. The ex-dividend date was also noted as February 7th. Currently, the payout ratio for the company stands at -42.04%.

Market Predictions and Analyst Ratings

Research analysts have provided insights into EGBN shares. For instance, Keefe, Bruyette & Woods adjusted their target price from $32.00 to $30.00, maintaining a "market perform" rating on the stock in their January 27th note. Similarly, Piper Sandler reduced its target price from $31.00 to $27.50, while marking a "neutral" rating in their report dated January 24th.

Institutional Investors' Engagement

Institutional investors are actively adjusting their holdings in Eagle Bancorp. For example, Fourthstone LLC has notably increased its stake in the firm by 382.7% during the fourth quarter, now owning 1,276,653 shares worth approximately $33.23 million. North Reef Capital Management LP also made significant adjustments, increasing its ownership by 251.9%, holding now 967,593 shares valued at $25.19 million. Further, JPMorgan Chase & Co. augmented its position by 69.5%, acquiring an additional 109,960 shares, bringing its total to 268,214 shares worth about $6.98 million. Other institutional players, like Algert Global LLC and American Century Companies Inc., have also increased their stakes significantly during the last quarter. A total of 78.03% of Eagle Bancorp’s stock is owned by hedge funds and institutional investors.

About Eagle Bancorp

Eagle Bancorp, Inc. serves as the holding company for EagleBank, offering both commercial and consumer banking services primarily in the United States. The company provides a wide range of lending products, including commercial loans for various needs, consumer loans, credit cards, and residential mortgage loans.

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