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 research note published on Tuesday.

Eagle Bancorp Trading Up 5.4 %

NASDAQ EGBN opened at $21.62 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $647.06 million, a PE ratio of 6.55 and a beta of 1.02. Eagle Bancorp has a one year low of $16.72 and a one year high of $31.97. The firm’s fifty day moving average is $22.75 and its two-hundred day moving average is $24.06.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings data 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 business had revenue of $75.89 million during the quarter, compared to analyst estimates of $75.67 million. Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. Analysts expect that Eagle Bancorp will post 2.32 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

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 issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.33%. The ex-dividend date is Wednesday, April 17th. Eagle Bancorp’s payout ratio is 54.55%.

Insider Activity

In other news, EVP Lindsey S. Rheaume sold 22,000 shares of Eagle Bancorp stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $22.98, for a total value of $505,560.00. Following the sale, the executive vice president now owns 9,075 shares of the company’s stock, valued at $208,543.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Trading of Eagle Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. boosted its holdings in Eagle Bancorp by 8.5% during the first quarter. Citigroup Inc. now owns 28,757 shares of the financial services provider’s stock worth $1,639,000 after buying an additional 2,251 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Eagle Bancorp by 56.3% in the first quarter. MetLife Investment Management LLC now owns 17,213 shares of the financial services provider’s stock valued at $981,000 after purchasing an additional 6,200 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Eagle Bancorp by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,541 shares of the financial services provider’s stock valued at $1,570,000 after buying an additional 3,395 shares during the last quarter. BlackRock Inc. raised its position in shares of Eagle Bancorp by 1.7% in the first quarter. BlackRock Inc. now owns 4,708,887 shares of the financial services provider’s stock valued at $268,453,000 after buying an additional 77,845 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Eagle Bancorp by 2.0% in the first quarter. Vanguard Group Inc. now owns 3,458,795 shares of the financial services provider’s stock valued at $197,186,000 after buying an additional 67,255 shares during 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.