Eagle Bancorp (NASDAQ:EGBN) Stock Price Down 11.8%

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s share price traded down 11.8% during mid-day trading on Thursday . The stock traded as low as $18.81 and last traded at $19.61. 121,068 shares changed hands during trading, a decline of 58% from the average session volume of 287,461 shares. The stock had previously closed at $22.24.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday.

Eagle Bancorp Trading Down 2.8 %

The firm has a 50 day simple moving average of $22.56 and a 200 day simple moving average of $24.10. 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 firm has a market cap of $580.94 million, a P/E ratio of 7.73 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). The business had revenue of $75.89 million for the quarter, compared to the consensus estimate of $75.67 million. Eagle Bancorp had a net margin of 11.14% and a return on equity of 6.11%. On average, equities research analysts predict that Eagle Bancorp, Inc. will post 2.32 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, April 18th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, April 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.27%. Eagle Bancorp’s dividend payout ratio is 71.71%.

Insider Activity at Eagle Bancorp

In related news, EVP Lindsey S. Rheaume sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $22.98, for a total transaction of $505,560.00. Following 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 SEC, which is accessible through this link. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eagle Bancorp

A number of large investors have recently bought and sold shares of EGBN. AQR Capital Management LLC increased its stake in Eagle Bancorp by 378.9% in the 3rd quarter. AQR Capital Management LLC now owns 361,217 shares of the financial services provider’s stock worth $7,748,000 after purchasing an additional 285,790 shares during the period. Epoch Investment Partners Inc. purchased a new position in Eagle Bancorp in the 4th quarter worth approximately $7,801,000. Vanguard Group Inc. increased its stake 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 worth $101,351,000 after purchasing an additional 126,085 shares during the period. Caxton Associates LP increased its stake in Eagle Bancorp by 480.5% in the 3rd quarter. Caxton Associates LP now owns 106,547 shares of the financial services provider’s stock worth $2,285,000 after purchasing an additional 88,193 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Eagle Bancorp by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,044,835 shares of the financial services provider’s stock worth $31,493,000 after purchasing an additional 54,480 shares during the period. 78.03% of the stock is owned by hedge funds and other institutional investors.

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.