Eagle Bancorp (NASDAQ:EGBN) Trading Up 4.2% Following Dividend Announcement

Shares of Eagle Bancorp, Inc. (NASDAQ:EGBN) were up 4.2% during trading on Thursday following a dividend announcement from the company. The company traded as high as $25.55 and last traded at $25.62. Approximately 79,995 shares were traded during trading, a decline of 61% from the average daily volume of 206,194 shares. The stock had previously closed at $24.58.

The newly announced dividend which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Friday, February 7th. Eagle Bancorp’s dividend payout ratio is currently -42.04%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EGBN shares. StockNews.com raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods increased their target price on Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler cut their target price on Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating on the stock in a research report on Friday.

Eagle Bancorp Trading Up 0.7 %

The business’s 50-day moving average price is $27.05 and its 200-day moving average price is $24.25. The firm has a market capitalization of $768.89 million, a PE ratio of -16.22 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.86 and a quick ratio of 0.86.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Eagle Bancorp had a negative net margin of 6.65% and a positive return on equity of 4.69%. As a group, analysts expect that Eagle Bancorp, Inc. will post 2.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eagle Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Eagle Bancorp by 13.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,440 shares of the financial services provider’s stock worth $26,637,000 after acquiring an additional 169,621 shares during the period. Renaissance Technologies LLC boosted its position in shares of Eagle Bancorp by 401.1% in the second quarter. Renaissance Technologies LLC now owns 105,636 shares of the financial services provider’s stock worth $1,997,000 after acquiring an additional 84,556 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Eagle Bancorp by 9.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,007 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 1,112 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Eagle Bancorp during the 2nd quarter worth $305,000. Finally, Sei Investments Co. raised its position in shares of Eagle Bancorp by 50.4% in the 2nd quarter. Sei Investments Co. now owns 25,857 shares of the financial services provider’s stock worth $489,000 after buying an additional 8,662 shares during the period. 78.03% of the stock is 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.