Eagle Bancorp (NASDAQ:EGBN) Trading Down 5.6%

Eagle Bancorp, Inc. (NASDAQ:EGBN) shares fell 5.6% during trading on Thursday . The stock traded as low as $52.78 and last traded at $52.78. 2,448 shares changed hands during trading, a decline of 98% from the average session volume of 143,431 shares. The stock had previously closed at $55.93.

Separately, Zacks Investment Research downgraded Eagle Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, April 6th. Five research analysts have rated the stock with a hold rating, Eagle Bancorp presently has a consensus rating of “Hold” and a consensus price target of $43.33.

The company has a market capitalization of $1.68 billion, a PE ratio of 11.77 and a beta of 1.16. The company has a fifty day moving average price of $56.45. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.17.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.28. Eagle Bancorp had a return on equity of 12.42% and a net margin of 35.38%. On average, sell-side analysts predict that Eagle Bancorp, Inc. will post 4.83 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Shareholders of record on Thursday, July 22nd will be given a dividend of $0.35 per share. This is a positive change from Eagle Bancorp’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Wednesday, July 21st. Eagle Bancorp’s payout ratio is presently 24.51%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its holdings in Eagle Bancorp by 2.8% during the second quarter. State of Alaska Department of Revenue now owns 22,115 shares of the financial services provider’s stock worth $1,240,000 after purchasing an additional 600 shares during the last quarter. Colony Group LLC raised its stake in shares of Eagle Bancorp by 5.7% during the 1st quarter. Colony Group LLC now owns 12,585 shares of the financial services provider’s stock worth $670,000 after buying an additional 674 shares during the last quarter. Baker Tilly Wealth Management LLC acquired a new position in shares of Eagle Bancorp during the 1st quarter worth $1,011,000. Oppenheimer Asset Management Inc. boosted its position in shares of Eagle Bancorp by 6.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,652 shares of the financial services provider’s stock worth $939,000 after buying an additional 1,065 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Eagle Bancorp in the 1st quarter valued at about $203,000. Hedge funds and other institutional investors own 71.62% of the company’s stock.

Eagle Bancorp Company Profile (NASDAQ:EGBN)

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.

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