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Eric R. Newell, Senior Executive Vice President and Chief Financial Officer of Eagle Bancorp Inc. (NASDAQ:EGBN), a regional bank with a market capitalization of $655 million, recently acquired 1,170 shares of the company’s common stock. According to InvestingPro data, the stock has experienced significant pressure, down over 16% year-to-date. The transactions, executed on March 7, 2025, were completed at a weighted average purchase price of approximately $21.37 per share, with the total value amounting to $25,008. Following this acquisition, Newell’s direct ownership stands at 28,733 shares. The shares were purchased in a series of transactions at prices ranging from $21.37 to $21.39. While the company currently shows weak profitability metrics, InvestingPro analysis indicates analysts expect a return to profitability this year, with an EPS forecast of $5.28 for FY2025. Get access to 12+ additional InvestingPro Tips and comprehensive financial analysis in the Pro Research Report.
In other recent news, Eagle Bancorp Inc. reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.50, compared to the forecasted $0.47. However, the company experienced a decline in revenue, reporting $74.86 million against an anticipated $78.36 million. Despite the revenue shortfall, Eagle Bancorp repaid $1 billion in debt, bolstering its financial position. The company also announced significant executive changes, with Norm Pozez, the Executive Chair, deciding not to seek re-election, while Susan Riel has assumed the additional role of Chair of the Board of Directors. Eric Newell and Ryan Riel were both promoted to Senior Executive Vice President. Additionally, Eagle Bancorp disclosed changes in its executive roles, with Eric Newell continuing his responsibilities as Chief Financial Officer and Ryan Riel expanding his oversight to include branch operations and technology. The company also noted that Karen Buck, the Chief Administrative Officer, has resigned to pursue other opportunities. These developments reflect Eagle Bancorp’s ongoing adjustments in leadership and strategic focus.
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