Eagle Bancorp (NASDAQ:EGBN) Raised 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 issued on Tuesday.

Eagle Bancorp Trading Up 5.4 %

EGBN opened at $21.62 on Tuesday. The firm has a market cap of $647.06 million, a P/E ratio of 6.55 and a beta of 1.02. Eagle Bancorp has a 12 month low of $16.72 and a 12 month high of $31.97. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The stock has a 50-day moving average of $22.75 and a 200 day moving average of $24.06.

Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.09). Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. The business had revenue of $75.89 million for the quarter, compared to analysts’ expectations of $75.67 million. As a group, research analysts forecast that Eagle Bancorp will post 2.32 EPS for the current year.

Eagle Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, April 18th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, April 17th. This represents a $1.80 annualized dividend and a dividend yield of 8.33%. Eagle Bancorp’s dividend payout ratio (DPR) is presently 54.55%.

Insider Buying and Selling at Eagle Bancorp

In other Eagle Bancorp 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 completion of the transaction, the executive vice president now owns 9,075 shares in the company, valued at $208,543.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Eagle Bancorp

A number of large investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Eagle Bancorp by 19.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 13,386 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 2,173 shares during the period. Riverview Trust Co purchased a new stake in shares of Eagle Bancorp in the first quarter valued at approximately $26,000. Quadrature Capital Ltd purchased a new stake in shares of Eagle Bancorp in the fourth quarter valued at approximately $584,000. Vanguard Group Inc. boosted its holdings in shares of Eagle Bancorp by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 3,362,689 shares of the financial services provider’s stock valued at $101,351,000 after purchasing an additional 126,085 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Eagle Bancorp by 20.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 258,406 shares of the financial services provider’s stock valued at $7,788,000 after purchasing an additional 43,553 shares during the period. 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.