Eagle Bancorp (NASDAQ:EGBN) Upgraded to Hold by StockNews.com

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

Eagle Bancorp Trading Down 10.3 %

Shares of EGBN stock opened at $19.96 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 0.97. Eagle Bancorp has a 1 year low of $16.72 and a 1 year high of $31.97. The stock has a fifty day moving average of $22.66 and a two-hundred day moving average of $24.13. The firm has a market capitalization of $597.40 million, a PE ratio of 7.95 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBN) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). Eagle Bancorp had a return on equity of 6.14% and a net margin of 11.14%. The business had revenue of $75.89 million for the quarter, compared to analyst estimates of $75.67 million. As a group, research analysts expect that Eagle Bancorp will post 2.32 EPS for the current year.

Eagle Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, April 18th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.02%. The ex-dividend date is Wednesday, April 17th. Eagle Bancorp’s dividend payout ratio (DPR) is presently 71.71%.

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 stock was sold at an average price of $22.98, for a total transaction of $505,560.00. Following the transaction, the executive vice president now directly owns 9,075 shares of the company’s stock, valued at $208,543.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EGBN. Charles Schwab Investment Management Inc. boosted its stake in shares of Eagle Bancorp by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 458,387 shares of the financial services provider’s stock worth $9,832,000 after acquiring an additional 38,678 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Eagle Bancorp by 138.5% during the 3rd quarter. New York State Common Retirement Fund now owns 30,637 shares of the financial services provider’s stock worth $657,000 after acquiring an additional 17,793 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Eagle Bancorp during the 3rd quarter worth about $692,000. Gamco Investors INC. ET AL boosted its stake in shares of Eagle Bancorp by 8.4% during the 3rd quarter. Gamco Investors INC. ET AL now owns 322,599 shares of the financial services provider’s stock worth $6,920,000 after acquiring an additional 24,931 shares in the last quarter. Finally, Verdad Advisers LP bought a new stake in shares of Eagle Bancorp during the 3rd quarter worth about $869,000. 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.