Eagle Bancorp (NASDAQ:EGBN) Upgraded 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 Thursday.

Eagle Bancorp Stock Performance

NASDAQ:EGBN opened at $19.41 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.97 and a current ratio of 1.01. The stock has a market capitalization of $580.94 million, a PE ratio of 7.73 and a beta of 1.02. Eagle Bancorp has a fifty-two week low of $16.72 and a fifty-two week high of $31.97. The company has a fifty day moving average of $22.46 and a two-hundred day moving average of $24.09.

Eagle Bancorp (NASDAQ:EGBN) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.09). The company 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 6.11% and a net margin of 11.14%. As a group, research analysts forecast that Eagle Bancorp will post 2.32 earnings per share for the current fiscal year.

Eagle Bancorp Announces Dividend

The company 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 $0.45 dividend. The ex-dividend date is Wednesday, April 17th. This represents a $1.80 annualized dividend and a dividend yield of 9.27%. Eagle Bancorp’s dividend payout ratio (DPR) is presently 71.71%.

Insider Transactions at Eagle Bancorp

In related news, EVP Lindsey S. Rheaume sold 22,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $22.98, for a total value of $505,560.00. Following the completion of the transaction, the executive vice president now directly owns 9,075 shares of the company’s stock, valued at approximately $208,543.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Eagle Bancorp

Several large investors have recently bought and sold shares of EGBN. Riverview Trust Co purchased a new position in Eagle Bancorp in the 1st quarter worth approximately $26,000. Versant Capital Management Inc lifted its position in Eagle Bancorp by 1,910.2% during the fourth quarter. Versant Capital Management Inc now owns 985 shares of the financial services provider’s stock worth $30,000 after buying an additional 936 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Eagle Bancorp during the third quarter worth $32,000. Gladius Capital Management LP grew its holdings in Eagle Bancorp by 762.4% in the 4th quarter. Gladius Capital Management LP now owns 1,466 shares of the financial services provider’s stock valued at $44,000 after buying an additional 1,296 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Eagle Bancorp in the 4th quarter worth $46,000. 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.