Eagle Bancorp (NASDAQ:EGBN) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a sell rating to a hold rating in a report released on Tuesday.

Eagle Bancorp Trading Up 0.4 %

NASDAQ:EGBN opened at $20.52 on Tuesday. The firm has a market capitalization of $614.16 million, a price-to-earnings ratio of 6.22 and a beta of 1.02. Eagle Bancorp has a 1-year low of $16.72 and a 1-year high of $31.97. The business’s 50-day moving average price is $22.79 and its two-hundred day moving average price is $24.05. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. The firm had revenue of $75.89 million during the quarter, compared to the consensus estimate of $75.67 million. On average, equities analysts expect that Eagle Bancorp will post 2.32 earnings per share for the current year.

Eagle Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, April 18th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.77%. The ex-dividend date of this dividend is Wednesday, April 17th. Eagle Bancorp’s dividend payout ratio is currently 54.55%.

Insider Activity at Eagle Bancorp

In related news, EVP Lindsey S. Rheaume sold 22,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 9,075 shares in the company, valued at approximately $208,543.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eagle Bancorp

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Eagle Bancorp by 0.9% during the 3rd quarter. BlackRock Inc. now owns 4,745,166 shares of the financial services provider’s stock worth $212,679,000 after purchasing an additional 44,403 shares in the last quarter. Vanguard Group Inc. increased its holdings in Eagle Bancorp by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,854,954 shares of the financial services provider’s stock worth $172,778,000 after purchasing an additional 77,521 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Eagle Bancorp by 11.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,828,445 shares of the financial services provider’s stock worth $61,197,000 after purchasing an additional 189,992 shares in the last quarter. Finally, State Street Corp increased its holdings in Eagle Bancorp by 19.9% during the 2nd quarter. State Street Corp now owns 1,766,877 shares of the financial services provider’s stock worth $37,387,000 after purchasing an additional 292,648 shares in the last quarter. Institutional investors own 78.03% of the company’s stock.

About Eagle Bancorp

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.