Eagle Bancorp (NASDAQ:EGBN) Upgraded at StockNews.com

StockNews.com upgraded shares of Eagle Bancorp (NASDAQ:EGBN) from a sell rating to a hold rating in a report published on Tuesday.

Eagle Bancorp Trading Down 1.8 %

NASDAQ:EGBN opened at $20.93 on Tuesday. The company has a fifty day moving average of $22.89 and a 200 day moving average of $24.10. Eagle Bancorp has a 52 week low of $16.72 and a 52 week high of $32.20. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $626.43 million, a P/E ratio of 6.34 and a beta of 1.02.

Eagle Bancorp (NASDAQ:EGBN) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.09). Eagle Bancorp had a net margin of 15.54% and a return on equity of 8.12%. The firm had revenue of $75.89 million for the quarter, compared to the consensus estimate of $75.67 million. On average, research analysts predict that Eagle Bancorp will post 2.32 earnings per share for the current year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, April 18th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, April 17th. This represents a $1.80 annualized dividend and a yield of 8.60%. Eagle Bancorp’s dividend payout ratio (DPR) is presently 54.55%.

Insiders Place Their Bets

In other Eagle Bancorp news, EVP Lindsey S. Rheaume sold 22,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $22.98, for a total value of $505,560.00. Following the completion of the transaction, the executive vice president now directly owns 9,075 shares in the company, valued at approximately $208,543.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new stake in shares of Eagle Bancorp in the 1st quarter worth about $26,000. Lazard Asset Management LLC purchased a new stake in shares of Eagle Bancorp in the 3rd quarter worth about $26,000. Belpointe Asset Management LLC grew its position in shares of Eagle Bancorp by 320.5% in the 1st quarter. Belpointe Asset Management LLC now owns 820 shares of the financial services provider’s stock worth $27,000 after buying an additional 625 shares during the period. Versant Capital Management Inc grew its position in shares of Eagle Bancorp by 1,910.2% in the 4th quarter. Versant Capital Management Inc now owns 985 shares of the financial services provider’s stock worth $30,000 after buying an additional 936 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Eagle Bancorp in the 3rd quarter worth about $32,000. 78.03% of the stock is currently owned by 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.