Eagle Bancorp, Inc. (NASDAQ:EGBN) Announces Quarterly Dividend of $0.45

Eagle Bancorp, Inc. (NASDAQ:EGBN) announced a quarterly dividend on Thursday, March 28th, Zacks reports. Stockholders of record on Thursday, April 18th will be given a dividend of 0.45 per share by the financial services provider on Tuesday, April 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.45%. The ex-dividend date of this dividend is Wednesday, April 17th.

Eagle Bancorp has raised its dividend by an average of 26.9% per year over the last three years. Eagle Bancorp has a payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Eagle Bancorp to earn $2.65 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 67.9%.

Eagle Bancorp Stock Down 0.1 %

Eagle Bancorp stock opened at $21.31 on Tuesday. The stock’s fifty day simple moving average is $22.94 and its 200-day simple moving average is $24.11. 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 has a twelve month low of $16.72 and a twelve month high of $32.20. The firm has a market capitalization of $637.81 million, a P/E ratio of 6.46 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBN) last posted its earnings results 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). The firm had revenue of $75.89 million for the quarter, compared to analyst estimates of $75.67 million. Eagle Bancorp had a return on equity of 8.12% and a net margin of 15.54%. As a group, equities analysts expect that Eagle Bancorp will post 2.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com cut Eagle Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, March 27th.

Insiders Place Their Bets

In other news, EVP Lindsey S. Rheaume sold 22,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eagle Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its stake in Eagle Bancorp by 304.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,132 shares of the financial services provider’s stock valued at $245,000 after buying an additional 6,121 shares in the last quarter. XTX Topco Ltd purchased a new stake in Eagle Bancorp in the 2nd quarter valued at approximately $244,000. Brevan Howard Capital Management LP purchased a new stake in Eagle Bancorp in the 4th quarter valued at approximately $235,000. Raymond James & Associates purchased a new stake in Eagle Bancorp in the 4th quarter valued at approximately $235,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Eagle Bancorp by 5.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 10,970 shares of the financial services provider’s stock valued at $232,000 after buying an additional 562 shares in the last quarter. Hedge funds and other 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.