Emerald Acquisition Ltd. purchased a new stake in shares of Eagle Bancorp Inc. (NASDAQ:EGBN) during the second quarter, Holdings Channel reports. The fund purchased 48,676 shares of the financial services provider’s stock, valued at approximately $2,342,000. Emerald Acquisition Ltd. owned approximately 0.14% of Eagle Bancorp as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of EGBN. Norges Bank bought a new position in shares of Eagle Bancorp during the fourth quarter worth about $9,529,000. Goldman Sachs Group Inc. boosted its position in shares of Eagle Bancorp by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,596,262 shares of the financial services provider’s stock worth $124,620,000 after buying an additional 187,807 shares during the period. State Street Corp boosted its position in shares of Eagle Bancorp by 25.3% in the first quarter. State Street Corp now owns 603,991 shares of the financial services provider’s stock worth $28,994,000 after buying an additional 122,105 shares during the period. Bellevue Group AG bought a new position in shares of Eagle Bancorp during the first quarter worth about $3,783,000. Finally, Shinko Asset Management Co. Ltd. boosted its position in shares of Eagle Bancorp by 91.4% in the second quarter. Shinko Asset Management Co. Ltd. now owns 145,388 shares of the financial services provider’s stock worth $6,995,000 after buying an additional 69,419 shares during the period. Institutional investors and hedge funds own 67.65% of the company’s stock.
Shares of Eagle Bancorp Inc. (NASDAQ:EGBN) traded down 1.41% during trading on Thursday, reaching $48.88. The company’s stock had a trading volume of 144,825 shares. The company’s 50 day moving average price is $50.55 and its 200 day moving average price is $49.53. Eagle Bancorp Inc. has a 12 month low of $43.75 and a 12 month high of $55.56. The firm has a market cap of $1.64 billion, a PE ratio of 18.31 and a beta of 0.83.
Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. Eagle Bancorp had a return on equity of 12.15% and a net margin of 30.91%. During the same quarter in the previous year, the company posted $0.61 earnings per share. On average, equities analysts predict that Eagle Bancorp Inc. will post $2.79 earnings per share for the current year.
Separately, Zacks Investment Research upgraded Eagle Bancorp from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Tuesday, September 20th.
In other news, Director Dudley C. Dworken sold 1,167 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $50.31, for a total transaction of $58,711.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.99% of the company’s stock.
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, which operates over 20 banking offices in Montgomery County, Maryland; District of Columbia, and Northern Virginia. The Bank offers a range of commercial banking services to its business and professional clients, as well as consumer banking services to individuals living or working in the service area.
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