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TheStreet Open House

5 Stocks Insiders Love Right Now

Eagle Bancorp

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One more stock seeing some interesting insider buying is regional banking player Eagle Bancorp (EGBN - Get Report), which 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. Insiders are buying this stock into modest strength since shares are up just over 10% so far in 2012.

Eagle Bancorp has a market cap of $324 million and an enterprise value of $343 million. This stock trades at a cheap valuation, with a trailing price-to-earnings of 12.75 and a forward price-to-earnings of 10.93. Its estimated growth rate for this year is 23.7%, and for next year it's pegged at 4.3%. This is not a cash-rich company, since the total cash position on its balance sheet is $142.15 million and its total debt is $160.88 million.

A director just bought 46,001 shares, or about $736,000 worth of stock, at $16 per share.

>>5 Bank Stocks Wilting Under the Summer Sun

From a technical perspective, EGBN is currently trading below its 50-day moving average and above its 200-day moving average, which is neutral trendwise. This stock has been uptrending for most of the year, with shares trading from a low of $13.87 to a recent high of $17.94 a share. During that uptrend, EGBN have mostly made higher highs and higher lows, which is bullish technical price action. That said, the stock just moved back below its 50-day moving average of $16.61 a share, and has started to move sideways between $15.91 and $16.25 a share.

If you're bullish on EGBN, then I would look for long-biased trades once this stock breaks out above $16.25, and then above its 50-day moving average of $16.61 a share with high-volume. Look for volume that's near or above its three-month average action of 42,776 shares. If we get that move, then I would look for EGBN to re-test and potentially take out its 52-week high of $17.94 a share.

I would simply avoid this stock or look for short-biased trades if EGBN moves below its near-term support at $15.91 to $15.81 with high-volume. If we get that move, look for EGBN to re-test and possibly take out its 200-day moving average of $14.79 a share.

To see more stocks with notable insider buying, including CVR Energy (CVI), BlackRock (BLK) and Mead Johnson Nutrition (MJN), check out the Stocks With Big Insider Buying portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.
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SYM TRADE IT LAST %CHG
BBY $38.48 0.21%
CARB $14.30 0.00%
EGBN $38.22 -0.55%
WTI $5.17 -4.79%
VVTV $6.72 3.07%

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