Eagle Bancorp (NASDAQ:EGBN) Shares Up 9%

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) were up 9% on Friday . The company traded as high as $21.84 and last traded at $21.76. Approximately 93,901 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 312,882 shares. The stock had previously closed at $19.96.

Analyst Ratings Changes

EGBN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on Eagle Bancorp from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. StockNews.com lowered Eagle Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, June 9th.

Eagle Bancorp Stock Performance

The stock has a market cap of $667.20 million, a price-to-earnings ratio of 8.45 and a beta of 1.08. The company has a 50-day moving average of $19.65 and a 200-day moving average of $20.71.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.34. The company had revenue of $175.06 million for the quarter, compared to analysts’ expectations of $80.90 million. Eagle Bancorp had a positive return on equity of 5.50% and a negative net margin of 5.28%. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, equities research analysts forecast that Eagle Bancorp, Inc. will post 1.03 EPS for the current year.

Eagle Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Saturday, July 20th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 8.14%. The ex-dividend date was Friday, July 19th. Eagle Bancorp’s dividend payout ratio (DPR) is 71.71%.

Insider Transactions at Eagle Bancorp

In other news, Director A. Leslie Ludwig purchased 1,500 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $16.89 per share, with a total value of $25,335.00. Following the purchase, the director now directly owns 41,413 shares of the company’s stock, valued at $699,465.57. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 3,500 shares of company stock valued at $58,825 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EGBN. Vanguard Group Inc. increased its holdings in Eagle Bancorp by 3.9% in the 4th 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in Eagle Bancorp by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,409,440 shares of the financial services provider’s stock worth $26,637,000 after purchasing an additional 169,621 shares in the last quarter. AQR Capital Management LLC grew its stake in Eagle Bancorp by 53.2% in the second quarter. AQR Capital Management LLC now owns 539,186 shares of the financial services provider’s stock worth $10,191,000 after purchasing an additional 187,249 shares in the last quarter. American Century Companies Inc. boosted its stake in Eagle Bancorp by 16.5% in the second quarter. American Century Companies Inc. now owns 510,770 shares of the financial services provider’s stock valued at $9,654,000 after acquiring an additional 72,415 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Eagle Bancorp by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 497,083 shares of the financial services provider’s stock valued at $14,982,000 after acquiring an additional 38,696 shares during the period. 78.03% of the stock is currently owned by institutional investors and hedge funds.

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.