In a recent transaction, Eagle Bancorp Inc.'s (NASDAQ:EGBN) Executive Vice President and Chief Financial Officer, Eric R. Newell, acquired shares of the company's common stock valued at a total of $17,032. The purchase, which took place on May 29, 2024, involved 1000 shares at a weighted average price of $17.032 each.
Investors tracking insider activity may note that the shares were bought in multiple transactions, with prices ranging from $16.80 to $17.15 per share. Following this acquisition, Mr. Newell now directly owns a total of 20,000 shares in the Maryland-based state commercial bank.
Eagle Bancorp has not made any additional comments regarding this transaction. The details of the purchase, including the exact number of shares acquired at each price point within the given range, are available upon request from the company or the Securities and Exchange Commission.
This move by a key executive at Eagle Bancorp adds a dimension to the company's financial narrative, as insider stock transactions are often closely monitored by market participants for insights into corporate health and executive confidence in the firm's prospects.
InvestingPro Insights
Eagle Bancorp Inc. (NASDAQ:EGBN) has shown a notable insider transaction with the company's Executive Vice President and Chief Financial Officer, Eric R. Newell, acquiring 1,000 shares. This move aligns with a broader pattern of management's confidence in the company, as reflected by one of the "InvestingPro Tips" which indicates that management has been aggressively buying back shares. Additionally, Eagle Bancorp has been rewarding its shareholders by raising its dividend for 5 consecutive years, a sign of the company's commitment to returning value to its investors.
The financial health and valuation of Eagle Bancorp can be further gauged by looking at the latest metrics from InvestingPro. The company's market capitalization stands at $526.81 million, and it is currently trading at a low earnings multiple, with a P/E ratio of 6.97. Moreover, the dividend yield is quite significant at 10.32%, making it an attractive option for income-focused investors. This is particularly relevant considering that the "InvestingPro Tips" also highlight that the company pays a substantial dividend to shareholders.
For investors seeking further insights and tips on Eagle Bancorp, there are additional "InvestingPro Tips" available, which can provide a deeper analysis of the company's financial performance and market position. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a total of 12 "InvestingPro Tips" that offer a comprehensive outlook on Eagle Bancorp's investment potential.
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