Empower Advisory Group LLC Makes Significant Investment in Eagle Bancorp, Inc.: Analyzing Performance and Future Prospects
On September 15, 2023, it was reported that Empower Advisory Group LLC had acquired a new stake in shares of Eagle Bancorp, Inc. The financial services provider’s stock purchase by the fund amounted to 34,172 shares valued at approximately $1,140,000. At the end of the reporting period, Empower Advisory Group LLC owned 0.11% of Eagle Bancorp.
Eagle Bancorp recently published its quarterly earnings data on July 26th. During this quarter, they reported earnings per share of $0.94, surpassing consensus estimates by $0.23. The company generated revenue of $80.41 million for the same period, exceeding the consensus estimate of $74.15 million. Furthermore, Eagle Bancorp recorded a net margin of 23.63% and achieved a return on equity of 10.79%. Equities research analysts predict that Eagle Bancorp will post an EPS of 3.13 for the current fiscal year.
Following these developments with Eagle Bancorp, research reports have been conducted to analyze its performance and provide insights into its future prospects. StockNews.com upgraded their rating on Eagle Bancorp from “sell” to “hold” in a research note dated August 25th. Additionally, Piper Sandler raised their price objective for the company from $24.00 to $30.00 in another research note released on August 1st.
These recent activities surrounding Eagle Bancorp demonstrate notable developments within the financial services provider’s operations and market reputation. As stakeholders monitor its progress going forward, it remains to be seen how this will impact their position within the industry and influence potential investors’ decisions.
Eagle Bancorp, Inc.
EGBN
Strong Buy
Updated on: 16/09/2023
Social Sentiments
11:00 PM (UTC)
Date:12 September, 2023
0
Twitter Sentiment
0.5625
Stocktwits Sentiment
Analyst Ratings
There are no analysts data to display
Surge of Institutional Investment in Eagle Bancorp Signals Confidence in Growth Potential
As perplexity and bustiness fill the air, hedge funds and other institutional investors have been making changes to their holdings of Eagle Bancorp, a financial services provider. One such investor is Aigen Investment Management LP, which has increased its position in the company’s shares by a staggering 25.7% during the fourth quarter. Now boasting ownership of 20,578 shares valued at $907,000, Aigen Investment Management LP must be feeling rather confident about Eagle Bancorp’s potential.
Range Financial Group LLC also made an entrance by purchasing a new position in Eagle Bancorp during the first quarter for approximately $1,129,000. This move further strengthens the belief in the company’s growth prospects and speaks volumes about its standing in the financial services industry.
Not too far behind is Jackson Creek Investment Advisors LLC, which bought a new stake in Eagle Bancorp worth around $664,000 also during the first quarter. Truist Financial Corp joined this bandwagon during the same period with a purchase of shares valued at approximately $520,000. It seems that these institutional players are recognizing something promising within Eagle Bancorp.
Adding to this frenzy of investment activity is First Trust Advisors LP, who boosted their stake in Eagle Bancorp by 11% during the fourth quarter. Acquiring an additional 35,580 shares brings their total ownership to an impressive 359,355 shares worth a stunning $15,846,000. With such significant investments from these key players, it underscores how attractive Eagle Bancorp’s stock is to those in the know.
While hedge funds and institutional investors have certainly taken notice of Eagle Bancorp’s potential for growth and success, it is worth mentioning that they currently own a considerable chunk of stock with 76.10% of the company being held by these entities.
In other news related to Eagle Bancorp, EVP Ryan Riel recently sold 6,282 shares of the company’s stock for a total transaction amount of $151,835.94. With the average price per share at $24.17, this move has caught the attention of avid investors. Riel now holds 25,860 shares valued at $625,036.20, demonstrating continued confidence in the company even after parting with a portion of their stock.
The market performance of Eagle Bancorp has been an area of interest for investors and observers alike. Opening at $23.90 on Friday, its 50-day moving average stands at $25.05 while its 200-day moving average currently resides at $26.55. With a market cap of $714.75 million and a relatively low PE ratio of 5.69, Eagle Bancorp offers potential value to investors seeking opportunities in the financial sector.
Despite these promising indicators, it is important to note that there have been fluctuations in Eagle Bancorp’s stock price over the past year. It experienced a 52-week low of $16.72 and reached its highest point at $49.04 during this period.
As we navigate through the year 2023, we’ll continue to monitor the actions and movements within the financial services industry closely with companies like Eagle Bancorp under scrutiny from hedge funds and institutional investors alike.
(Source: SEC filing)
