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

Eagle Bancorp, Inc. (NASDAQ:EGBN)’s stock price rose 4.2% on Thursday following a dividend announcement from the company. The stock traded as high as $25.55 and last traded at $25.62. Approximately 79,995 shares traded hands 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. Investors of record on Friday, February 7th will be given a dividend of $0.165 per share. The ex-dividend date is Friday, February 7th. This represents a $0.66 dividend on an annualized basis and a yield of 2.59%. Eagle Bancorp’s dividend payout ratio is presently -42.04%.

Analyst Ratings Changes

A number of equities analysts have weighed in on EGBN shares. StockNews.com upgraded Eagle Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price target on Eagle Bancorp from $25.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler dropped their price objective on shares of Eagle Bancorp from $31.00 to $27.50 and set a “neutral” rating on the stock in a research note on Friday.

Eagle Bancorp Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $27.05 and a 200 day moving average price of $24.25. The stock has a market capitalization of $768.89 million, a price-to-earnings ratio of -16.22 and a beta of 1.10.

Eagle Bancorp (NASDAQ:EGBN) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.50 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, equities research analysts expect that Eagle Bancorp, Inc. will post 2.42 earnings per share for the current year.

Hedge Funds Weigh In On Eagle Bancorp

A number of large investors have recently added to or reduced their stakes in EGBN. Geode Capital Management LLC increased its stake in shares of Eagle Bancorp by 3.7% during the third quarter. Geode Capital Management LLC now owns 719,688 shares of the financial services provider’s stock worth $16,254,000 after purchasing an additional 25,578 shares in the last quarter. Empowered Funds LLC increased its stake in Eagle Bancorp by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 28,300 shares of the financial services provider’s stock worth $639,000 after buying an additional 1,340 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Eagle Bancorp by 4.3% during the third quarter. HighTower Advisors LLC now owns 10,977 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 450 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Eagle Bancorp by 41.6% in the third quarter. BNP Paribas Financial Markets now owns 55,627 shares of the financial services provider’s stock valued at $1,256,000 after acquiring an additional 16,338 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Eagle Bancorp by 63.9% in the third quarter. Jane Street Group LLC now owns 71,703 shares of the financial services provider’s stock worth $1,619,000 after acquiring an additional 27,942 shares during the last quarter. 78.03% of the stock is currently 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.