Eagle Bancorp, Inc. (EGBN) To Go Ex-Dividend on April 5th

Eagle Bancorp, Inc. (NASDAQ:EGBN – Get Rating) declared a quarterly dividend on Thursday, March 16th, Zacks reports. Shareholders of record on Thursday, April 6th will be given a dividend of 0.45 per share by the financial services provider on Friday, April 28th. This represents a $1.80 annualized dividend and a yield of 5.02%. The ex-dividend date is Wednesday, April 5th.

Eagle Bancorp has raised its dividend payment by an average of 38.4% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Eagle Bancorp has a dividend payout ratio of 38.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Eagle Bancorp to earn $4.70 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 38.3%.

Eagle Bancorp Price Performance

Shares of NASDAQ EGBN traded down $1.36 during trading hours on Friday, hitting $35.84. 920,594 shares of the stock were exchanged, compared to its average volume of 228,617. Eagle Bancorp has a 1-year low of $34.08 and a 1-year high of $60.40. The company has a market cap of $1.11 billion, a PE ratio of 7.66 and a beta of 0.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The company’s fifty day simple moving average is $44.38 and its two-hundred day simple moving average is $45.16.

Eagle Bancorp (NASDAQ:EGBN – Get Rating) last issued its earnings results on Wednesday, January 18th. The financial services provider reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.16. Eagle Bancorp had a return on equity of 13.16% and a net margin of 33.56%. The firm had revenue of $90.93 million for the quarter, compared to the consensus estimate of $89.20 million. On average, sell-side analysts predict that Eagle Bancorp will post 4.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EGBN. Piper Sandler reissued a “neutral” rating and set a $50.00 target price on shares of Eagle Bancorp in a research note on Monday, December 5th. StockNews.com initiated coverage on shares of Eagle Bancorp in a research report on Thursday. They set a “sell” rating for the company.

Hedge Funds Weigh In On Eagle Bancorp

Large investors have recently bought and sold shares of the company. Citigroup Inc. raised its holdings in Eagle Bancorp by 8.5% in the 1st quarter. Citigroup Inc. now owns 28,757 shares of the financial services provider’s stock valued at $1,639,000 after buying an additional 2,251 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Eagle Bancorp by 56.3% during the first quarter. MetLife Investment Management LLC now owns 17,213 shares of the financial services provider’s stock worth $981,000 after purchasing an additional 6,200 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake 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 worth $1,570,000 after purchasing an additional 3,395 shares during the last quarter. BlackRock Inc. increased its holdings in 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 purchasing an additional 77,845 shares during the period. Finally, Vanguard Group Inc. raised its position in Eagle Bancorp by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 3,458,795 shares of the financial services provider’s stock worth $197,186,000 after purchasing an additional 67,255 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.

Eagle Bancorp Company Profile

(Get Rating)

Eagle Bancorp, Inc is a bank holding company, which engages in the provision of commercial banking services. The firm offers checking accounts, business savings accounts, online and mobile banking, insurance, and investment advisory services, borrowing, and treasury management. Its customers include sole proprietors, small and medium-sized businesses, partnerships, corporations, non-profit organizations and associations, and investors living and working in and near the bank’s primary service area.