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One final stock in the banking complex where insiders are buying up some stock in is
Eagle Bancorp(EGBN - Get Report). This bank offers full commercial banking services to its business and professional clients as well as complete consumer banking services to individuals living and/or working in the service area.
Eagle Bancorp has a market cap of $289.52 million and an enterprise value of -$262.15. This stock trades at a cheap valuation, since their trailing price-to-earnings is 14.12 and their forward price-to-earnings is just 10.54. Their estimated growth rate for this year is 45.5% and for next year it's pegged at 23.3%. This is a cash-rich company, since the total cash position on their balance sheet is $746.85 million and their total debt is $196.97 million.
bought 28,677 shares, or around 405,000 worth of stock, at $14.12 per share.
From a technical standpoint, EGBN is currently trading above both its 50-day and 200-day moving average, which is bullish. This stock formed a perfect double bottom in September and October at $11.10 to $11.26 a share. Since hitting that bottom, the stock has been uptrending strong and is now nearing a big breakout.
If you're bullish on EGBN, you could be a buyer off any weakness and anticipate the breakout. I would use a mental stop just below the 50-day moving average of $13.96 if you get long off weakness. You could also buy off strength and get long once EGBN breaks out above $14.94 to $15.14 with volume. Look for volume that's tracking in close to or above its three-month average action of 65,851 shares.
To see more stocks with notable insider buying like
Enstar Group(ESGR - Get Report),
First Acceptance(FAC - Get Report) and
Inergy Midstream(NRGM), check out the
Stocks With Big Insider Buying portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.