Eagle Bancorp (NASDAQ:EGBN) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Eagle Bancorp Price Performance

NASDAQ:EGBN opened at $19.41 on Thursday. The business’s 50-day moving average is $22.46 and its 200 day moving average is $24.09. Eagle Bancorp has a 12 month low of $16.72 and a 12 month high of $31.97. The company has a market capitalization of $580.94 million, a P/E ratio of 7.73 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 1.33.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.09). The firm had revenue of $75.89 million for the quarter, compared to analysts’ expectations of $75.67 million. Eagle Bancorp had a return on equity of 6.11% and a net margin of 11.14%. On average, equities research analysts forecast that Eagle Bancorp will post 2.32 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, April 18th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $1.80 annualized dividend and a yield of 9.27%. Eagle Bancorp’s dividend payout ratio (DPR) is currently 71.71%.

Insider Transactions at Eagle Bancorp

In related news, EVP Lindsey S. Rheaume sold 22,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $22.98, for a total value of $505,560.00. Following the completion of the transaction, the executive vice president now owns 9,075 shares of the company’s stock, valued at approximately $208,543.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Trading of Eagle Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in Eagle Bancorp by 1,910.2% during the fourth quarter. Versant Capital Management Inc now owns 985 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 936 shares during the last quarter. Riverview Trust Co bought a new position in Eagle Bancorp during the 1st quarter valued at about $26,000. Gladius Capital Management LP raised its position in Eagle Bancorp by 762.4% in the 4th quarter. Gladius Capital Management LP now owns 1,466 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 1,296 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Eagle Bancorp in the third quarter worth about $32,000. Finally, GAMMA Investing LLC bought a new stake in Eagle Bancorp in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 78.03% of the company’s stock.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc operates as the bank holding company for EagleBank that provides commercial and consumer banking services primarily in the United States. The company also offers various commercial and consumer lending products comprising commercial loans for working capital, equipment purchases, real estate lines of credit, and government contract financing; asset based lending and accounts receivable financing; construction and commercial real estate loans; business equipment financing; consumer home equity lines of credit, personal lines of credit, and term loans; consumer installment loans, such as auto and personal loans; personal credit cards; and residential mortgage loans.