Bridgewater Wealth & Financial Management LLC continued to hold its stake in shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) during the second quarter, Holdings Channel reports. The fund owned 24,339 shares of the financial services provider’s stock at the end of the second quarter. Bridgewater Wealth & Financial Management LLC’s holdings in Eagle Bancorp were worth $1,541,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Eagle Bancorp during the first quarter worth about $124,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Eagle Bancorp during the first quarter worth about $158,000. Burt Wealth Advisors raised its stake in shares of 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 during the period. Prudential Financial Inc. raised its stake in shares of 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 during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Eagle Bancorp by 376.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,144 shares of the financial services provider’s stock worth $262,000 after buying an additional 3,275 shares during the period. Hedge funds and other institutional investors own 67.47% of the company’s stock.
Eagle Bancorp, Inc. (NASDAQ:EGBN) opened at 61.90 on Thursday. The firm’s 50-day moving average is $62.73 and its 200-day moving average is $60.81. Eagle Bancorp, Inc. has a 1-year low of $47.20 and a 1-year high of $65.00. The stock has a market cap of $2.12 billion, a P/E ratio of 20.16 and a beta of 0.70.
Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.04. Eagle Bancorp had a net margin of 31.79% and a return on equity of 12.17%. 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 firm posted $0.71 earnings per share. On average, analysts forecast that Eagle Bancorp, Inc. will post $3.27 EPS for the current year.
A number of analysts recently issued reports on the stock. BidaskClub lowered shares of Eagle Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Eagle Bancorp from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Wednesday, June 28th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $64.00 target price on shares of Eagle Bancorp in a research report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $67.25.
In related news, CEO Ronald D. Paul sold 7,791 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $63.50, for a total transaction of $494,728.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ronald D. Paul sold 706 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $64.12, for a total transaction of $45,268.72. The disclosure for this sale can be found here. Insiders have sold 32,924 shares of company stock worth $2,074,098 over the last ninety days. 8.39% of the stock is currently owned by 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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