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 report sent to investors on Friday.

Eagle Bancorp Stock Performance

Shares of EGBN opened at $20.09 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 1.33. The firm has a market cap of $601.29 million, a PE ratio of 8.00 and a beta of 1.05. Eagle Bancorp has a 12 month low of $16.72 and a 12 month high of $31.97. The stock has a fifty day moving average price of $21.94 and a 200-day moving average price of $24.13.

Eagle Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, April 18th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.96%. The ex-dividend date was Wednesday, April 17th. Eagle Bancorp’s dividend payout ratio 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 that occurred on Tuesday, March 5th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Susan G. Riel acquired 5,260 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were purchased at an average cost of $18.73 per share, with a total value of $98,519.80. Following the completion of the acquisition, the chief executive officer now directly owns 332,210 shares of the company’s stock, valued at $6,222,293.30. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lindsey S. Rheaume sold 22,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $22.98, for a total transaction of $505,560.00. Following the sale, the executive vice president now directly owns 9,075 shares in the company, valued at $208,543.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 6,082 shares of company stock worth $114,283. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Eagle Bancorp

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Eagle Bancorp by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 458,387 shares of the financial services provider’s stock valued at $9,832,000 after buying an additional 38,678 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Eagle Bancorp by 138.5% in the third quarter. New York State Common Retirement Fund now owns 30,637 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 17,793 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Eagle Bancorp in the third quarter valued at $692,000. Gamco Investors INC. ET AL boosted its holdings in Eagle Bancorp by 8.4% in the third quarter. Gamco Investors INC. ET AL now owns 322,599 shares of the financial services provider’s stock valued at $6,920,000 after purchasing an additional 24,931 shares during the last quarter. Finally, Verdad Advisers LP purchased a new stake in Eagle Bancorp in the third quarter valued at $869,000. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.