Eagle Bancorp (NASDAQ:EGBN) Reaches New 12-Month High at $63.65

Eagle Bancorp, Inc. (NASDAQ:EGBN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $63.65 and last traded at $63.46, with a volume of 765 shares traded. The stock had previously closed at $62.55.

Several brokerages recently issued reports on EGBN. Zacks Investment Research downgraded shares of Eagle Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, October 29th. Boenning Scattergood reiterated a “neutral” rating on shares of Eagle Bancorp in a research report on Thursday, October 21st.

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 11.64 and a beta of 1.05. The business’s 50-day simple moving average is $58.64 and its 200-day simple moving average is $57.25.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Tuesday, October 19th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.19. Eagle Bancorp had a net margin of 42.16% and a return on equity of 13.54%. The company had revenue of $87.34 million for the quarter, compared to the consensus estimate of $88.67 million. During the same period in the prior year, the company posted $1.28 EPS. On average, analysts forecast that Eagle Bancorp, Inc. will post 5.39 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 31st. Shareholders of record on Wednesday, January 19th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, January 18th. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. Eagle Bancorp’s payout ratio is presently 29.47%.

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its position in Eagle Bancorp by 8.8% during the 2nd quarter. State Street Corp now owns 1,369,910 shares of the financial services provider’s stock valued at $76,825,000 after purchasing an additional 110,521 shares during the period. EJF Capital LLC acquired a new position in Eagle Bancorp during the 2nd quarter valued at about $4,186,000. UBS Asset Management Americas Inc. lifted its position in Eagle Bancorp by 9.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 25,399 shares of the financial services provider’s stock valued at $1,424,000 after purchasing an additional 2,168 shares during the period. Stokes Family Office LLC acquired a new stake in shares of Eagle Bancorp in the 2nd quarter valued at approximately $209,000. Finally, Victory Capital Management Inc. raised its position in shares of Eagle Bancorp by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,463,856 shares of the financial services provider’s stock valued at $84,172,000 after acquiring an additional 80,195 shares during the period. Institutional investors own 73.04% of the company’s stock.

About Eagle Bancorp (NASDAQ:EGBN)

Eagle Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking services. The firm offers checking accounts, business savings accounts, online and mobile banking, insurance, and investment advisory services; borrowing; and treasury management. Its customers include sole proprietors, small and medium-sized businesses, partnerships, corporations, non-profit organizations and associations, and investors living and working in and near the bank’s primary service area.

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