Eagle Bancorp (NASDAQ:EGBN) Trading 4.2% Higher After Dividend Announcement

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s stock price was up 4.2% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $25.55 and last traded at $25.62. Approximately 79,995 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 206,194 shares. The stock had previously closed at $24.58.

The newly announced dividend which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.66 dividend on an annualized basis and a yield of 2.59%. Eagle Bancorp’s payout ratio is -42.04%.

Analysts Set New Price Targets

EGBN has been the subject of a number of analyst reports. Piper Sandler dropped their price target on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating for the company in a research report on Friday. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lifted their price target on Eagle Bancorp from $25.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Eagle Bancorp Trading Up 0.7 %

The stock has a market cap of $768.89 million, a PE ratio of -16.22 and a beta of 1.10. The company’s 50-day moving average price is $27.05 and its 200 day moving average price is $24.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.69%. On average, sell-side analysts forecast that Eagle Bancorp, Inc. will post 2.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new position in shares of Eagle Bancorp in the 2nd quarter worth approximately $35,000. R Squared Ltd acquired a new position in Eagle Bancorp during the fourth quarter worth $51,000. Point72 DIFC Ltd purchased a new position in shares of Eagle Bancorp during the third quarter worth $48,000. GAMMA Investing LLC grew its stake in shares of Eagle Bancorp by 102.0% in the third quarter. GAMMA Investing LLC now owns 2,444 shares of the financial services provider’s stock valued at $55,000 after buying an additional 1,234 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Eagle Bancorp by 49.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,546 shares of the financial services provider’s stock valued at $57,000 after buying an additional 846 shares during the period. 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.